The recipient of the Colombian’s current repertoire (which consists of 145 songs) is now Hipgnosis Songs Fund, a British company engaged in song management and investment in the intellectual property of the music.
Shakira has joined the growing list of top songwriting artists who have decided to sell their catalog of songs, a list that in recent weeks also includes the names of Bob Dylan, Neil Young, or Lindsay Buckingham, a former member of Fleetwood Mac. contains. (You may be interested: Shakira, back in Barranquilla)
In the Colombian’s case, the recipient of one hundred percent of her current repertoire (which consists of 145 songs) is the Hipgnosis Songs Fund, a British song management company that co-founded in 2018 intellectual property in music. by Nile Rodgers and Merck Mercuriadis, who led the careers of such figures as Beyoncé and Elton John at the time.
“I am honored that song writing has given me the privilege of communicating with others, of being part of something bigger than myself. I know that Hipgnosis will be a great home for my catalog and I am very happy to partner with this company run by Merck, which truly appreciates artists and their creations and is an ally to songwriters (…) who care deeply about the continuous life of his songs, ” Shakira said in a statement. recommend: Shakira releases ‘Girl like me’ with Black Eyed Peas)
Although the company has confirmed through social networks, without giving figures on the amount of the operation, that Shakira is included in its catalog, of which Dave Stewart (Eurythmics), Debbie Harry (Blondie), Chryssie Hynde (Pretenders) are already part, The Chainsmokers or Mark Ronson.
In recent days, the company also acquired 50 percent of the rights to Neil Yong’s repertoire, some 1,180 songs for about $ 50 million, an industry source told Variety magazine. (Also: Photos: Shakira and her luxury mansions in different cities of the world)
The operation took place in parallel, also recording Lindsay Buckingham’s copyright and publication of about 160 songs, including some of the hits he wrote for Fleetwood Mac, such as Go your own way.
The flow of these movements has increased significantly in recent weeks by composers of all styles, as was evident when Bob Dylan announced in December that he was selling his rights to some 600 songs to the Universal Music Publishing group for almost about 250 million euros.
In recent hours, another echoing the movement has been OneRepublic’s leader Ryan Tedder, best known for authoring or co-authoring some of the greatest hits of recent years, such as Halo and XO for Beyonce, Rumor has it Adele de Sucker the Jonas Brothers.
https://www.youtube.com/watch?v=CnAmeh0-EU
According to some experts, the largest number of surgeries of this type recorded in recent weeks could be related on the one hand to the cancellation of tours for a year due to the covid-19 pandemic (one of the main sources of income) and, on the other, side, with the coming to the White House of Democrat Joe Biden and the potential increase in taxes imposed by the capital increase.
On the other hand, the greater interest of funds to invest in this field would have to do with the predominant role that streaming platforms have come to play, in which not only news is monetized, but also what is called repertoire songs, especially the greatest hits, now with a longer or renewed life.
According to an estimate published by The Wall Street Journal, music catalogs are being revalued year after year such that a repertoire that could be paid $ 41,000 can currently be valued in millions, in a wide range of 4 to 40 million.
Hipgnosis Songs herself confirmed these arguments in her greeting to Shakira: “She is an outstanding creator who has paved the way from what was a great physical success to now with more streaming success than most of her contemporary colleagues. . It is great for us to welcome the queen of Latin music and much more ”.