Shakira tunes directly into trend of offering music rights

Colombian pop superstar Shakira is among the most latest artist to sell the rights to her catalogue of 145 songs to London-listed Hip gnosis Songs Fund, the investment firm reported found on Wednesday, as the coronavirus crisis crushes concert earnings.The three-time Grammy award winner, well-known for her songs such as for example "Hips Don't Lie", "Whenever, Wherever", "Underneath Your Garments" and 2010 FIFA World Cup song "Waka Waka (THIS TIME AROUND For Africa)", has sold over 80 million records and hasa strong following on music streaming platforms Spotify and YouTube.

The pandemic has all but turn off live concert earnings and a growing set of musicians have sought to monetise their back catalogues. Bob Dylan distributed his back catalogue previous month and he possesses been followed by others, such as for example Neil Young.A good surge in on the web music streaming, which includes sent several outdated hits back to the most notable of today's charts, has put into the draw for traders. JP Morgan stated Hip gnosis was an beautiful expenditure given its long-term revenues because of copyright laws.

"At eight years good old, a long time before I sang, I wrote to make sense of the world," Shakira, 43, said in a statement."Each track is a reflection of the person I was at that time that I wrote it, but once a song has gone out on earth, it belongs not merely if you ask me but to those that appreciate it as well," she said. "I know Hip gnosis is a great residence for my catalogue."

The professional investment firm didn't disclose financial details of the offer, which is Hip gnosis' latest after others this season with Neil Little, Fleetwood Mac guitarist Lindsey Buckingham and record producer Jimmy Iovine. Bob Dylan sold his back again catalogue to Universal Music Group in December. Hip gnosis founder Merck Mercuriadis hailed the manage Shakira, contacting her "the Queen of Latin Music".