Shakira 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 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 Reuters
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