LONDON (UK) Colombian singing sensation Shakira is the latest to join the league of artists to sell rights to her songs. The pop superstar sold the rights to her catalogue of 145 songs to London-listed Hipgnosis Songs Fund, revealed the investment firm on Wednesday. This comes as the pandemic has crushed concert earnings.
Shakira, who is a three-time Grammy award winner, famous for numbers such as “Hips Don’t Lie”, “Whenever, Wherever”, “Underneath Your Clothes” and 2010 FIFA World Cup theme song “Waka Waka, has sold more than 80 million records and boasts a strong following on music streaming platforms Spotify and YouTube.
The pandemic has crushed live concert earnings and several musicians have sought to sell their catalogues. Last month, Bob Dylan sold his back catalogue and others like Neil Young followed suit.
Adding to the draw for investors is the fact that a surge in online music streaming bringing several old hits to the top of today’s charts.
“At eight years old, long before I sang, I wrote to make sense of the world,” said Shakira, 43.
“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 catalogue.”
Hipgnosis founder Merck Mercuriadis hailed the deal with the Colombian singer by 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.