Yahoo Finance Shakira latest pop star to join Hipgnosis' mega deal spree
Shakira is the latest musician to strike a catalogue deal with London-listed Hipgnosis (SONG.L) as it continues its buying spree.
Hipgnosis acquired 100% of Shakira’s music publishing rights for her entire catalogue, which is made up of 145 songs, the company said. The value of the deal was not disclosed.
Shakira has sold over 80 million records, making her the bestselling female Latin artist of all time, Hipgnosis said. She is also the recipient of three Grammy Awards and 12 Latin Grammy Awards.
Some of her most popular songs include ‘Whenever, Wherever,’ ‘Underneath Your Clothes’ and ‘Hips Don’t Lie’ as well as the 2010 Fifa World Cup song ‘Waka Waka (This Time For Africa).’
Hipgnosis’ founder Merck Mercuriadis, said “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.”
“She is a superb creator who has led the charge from what was massive physical success to now having bigger success in streaming than most of her contemporaries,” he added.
Shakira said, Hipgnosis “will be a great home for my catalogue, and I’m so happy to partner with this company led by Merck, who truly values artists and their creations and is an ally to songwriters everywhere who care deeply about the continued life of their songs.”
READ MORE: Neil Young and Fleetwood Mac's Lindsey Buckingham join music rights mega deal spree
Last week the firm, which describes itself as “the first UK listed investment company offering investors a pure-play exposure to songs and associated intellectual property rights,” took a 50% stake in the Canadian Rock legend Neil Young’s portfolio of 1,180 tracks.
The acquisition frenzy has hit as music juggernauts increasingly sell off all or portions of their catalogue, including Bob Dylan, Taylor Swift and Stevie Nicks.
With COVID-19 restrictions limiting people’s ability to leave their home, musicians are not able to rely on revenue from concert sales, a significant portion of income for many. A string of sales of music rights and catalogues among top artists is the result.
Hipgnosis (SONG.L) shares ticked up roughly 0.3% in London at 11am.
Hipgnosis has also secured a number of other high-profile acquisitions of late, including some of the most famous Fleetwood Mac hits as part of a 100% deal for Lindsey Buckingham’s publishing rights across 161 songs.
Hipgnosis makes money from placing songs in films and TV shows. It raised £250m ($342m) in September to help fund its buying spree, with a pipeline of roughly £1bn.
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