Shakira on trend as she sells  music rights to Hipgnosis

Shakira on trend as she sells music rights to Hipgnosis

Colombian
pop
superstar
Shakira
has
become
the
latest
artist
to
sell
the
rights
to
her
catalogue
of
145
songs
to
London-listed
Hipgnosis
Songs
Fund,
the
investment
firm
said
on
Wednesday,
as
the
coronavirus
crisis
crushes
concert
earnings.

The
three-time
Grammy-award
winner,
famous
for
her
songs
such
as
“Hips
Don’t
Lie,”
“Whenever,
Wherever,”
“Underneath
Your
Clothes”
and
the
2010
FIFA
World
Cup
song
“Waka
Waka
(This
Time
For
Africa),”
has
sold
over
80
million
records
and

has
a
strong
following

on
music
streaming
platforms
Spotify
and
YouTube.

The
pandemic
has
all
but
shut
down
live
concert
earnings
and
a
growing
list
of
musicians
have
sought
to
monetize
their
back
catalogs.
Bob
Dylan
sold
his
back
catalogue
last
month
and
he
has
been
followed
by
others,
such
as
Neil
Young.

A
surge
in
online
music
streaming,
which
has
sent
several
old
hits
back
to
the
top
of
today’s
charts,
has
added
to
the
draw
for
investors.
JP
Morgan
said
Hipgnosis
was
an
attractive
investment
given
its
long-term
revenues
due
to
copyright
laws.

“At
eight
years
old,
long
before
I
sang,
I
wrote
to
make
sense
of
the
world,”
Shakira,
43,
said
in
a
statement.

“Each
song
is
a
reflection
of
the
person
I
was
at
the
time
that
I
wrote
it,
but
once
a
song
is
out
in
the
world,
it
belongs
not
only
to
me
but
to
those
who
appreciate
it
as
well,”
she
said.
“I
know
Hipgnosis
will
be
a
great
home
for
my
catalog.”

The
specialist
investment
firm
did
not
disclose
financial
details
of
the
deal,

which
is
Hipgnosis’
most
recent
after
others
this
year
with
Young
,
Fleetwood
Mac
guitarist
Lindsey
Buckingham
and
record
producer
Jimmy
Iovine.

Dylan
sold
his
back
catalog
to
Universal
Music
Group
in
December.

Hipgnosis
founder
Merck
Mercuriadis

hailed
the
deal

with
Shakira,
calling
her
“the
Queen
of
Latin
Music.”

“What
no
one
should
ever
take
for
granted
is
that
she
is
one
of
the
most
serious
and
successful
songwriters
of
the
last
25
years,
having
written
or
co-written
virtually
every
song
she
has
ever
recorded,”
he
said.

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