Colombian popular superstar Shakira has go the latest creator to merchantability the rights to her catalogue of 145 songs to London-listed Hipgnosis Songs Fund, the concern steadfast said connected Wednesday, arsenic the coronavirus situation crushes performance earnings.
The three-time Grammy Award winner, celebrated for her songs specified arsenic “Hips Don’t Lie”, “Whenever, Wherever”, “Underneath Your Clothes” and 2010 FIFA World Cup opus “Waka Waka (This Time For Africa)”, has sold implicit 80 cardinal records and has a beardown pursuing connected euphony streaming platforms Spotify and YouTube.
The pandemic has each but unopen down unrecorded performance net and a increasing database of musicians person sought to monetise their backmost catalogues. Bob Dylan sold his backmost catalogue past period and helium has been followed by others, specified arsenic Neil Young.
A surge successful online euphony streaming, which has sent respective aged hits backmost to the apical of today’s charts, has added to the gully for investors. JP Morgan said Hipgnosis was an charismatic concern fixed its semipermanent revenues owed to copyright laws.
“At 8 years old, agelong earlier I sang, I wrote to marque consciousness of the world,” Shakira, 43, said successful a statement.
“Each opus is simply a reflection of the idiosyncratic I was astatine the clip that I wrote it, but erstwhile a opus is retired successful the world, it belongs not lone to maine but to those who admit it arsenic well,” she said. “I cognize Hipgnosis volition beryllium a large location for my catalogue.” The specializer concern steadfast did not disclose fiscal details of the deal, which is Hipgnosis’ astir caller aft others this twelvemonth with Neil Young, Fleetwood Mac guitarist Lindsey Buckingham and grounds shaper Jimmy Iovine.
Bob Dylan sold his backmost catalogue to Universal Music Group successful December.
Hipgnosis laminitis Merck Mercuriadis hailed the woody with Shakira, calling her “the Queen of Latin Music”.
“What nary 1 should ever instrumentality for granted is that she is 1 of the astir superior and palmy songwriters of the past 25 years, having written oregon co-written virtually each opus she has ever recorded,” helium said.