|
The three-time Grammy award winner, famous for
her songs such as "Hips Don't Lie", "Whenever, Wherever",
"Underneath Your Clothes" and 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 monetise their back
catalogues. 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 catalogue."
The specialist investment firm did not disclose financial
details of the deal, which is Hipgnosis' most recent after
others this year with Neil Young, Fleetwood Mac guitarist
Lindsey Buckingham and record producer Jimmy Iovine.
Bob Dylan sold his back catalogue 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.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Edmund
Blair)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content
|
|
