The recipient of the current Colombian repertoire (which is comprised of 145 tracks) is now Hipgnosis Songs Fund, a British song management and intellectual property investment company in music.
Shakira has joined the growing list of top songwriters who have decided to sell their catalog of songs, a list that in recent weeks has also incorporated the names of Bob Dylan, Neil Young and Lindsay Buckingham, a former member of Fleetwood Mac. (You may be interested: Shakira, back in Barranquilla)
In the case of the Colombian, the recipient of one hundred percent of its current repertoire (which consists of 145 songs) has been Hipgnosis Songs Fund, which is a British company of song management and investment in intellectual property of music co-founded in 2018 by Nile Rodgers and Merck Mercuriadis, who at the time led the careers of figures such as Beyoncé and Elton John.
“I feel honored that writing songs 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 partnering with this Merck-led company, which truly values artists and their creations and is an ally for composers (…) who are deeply concerned about the continuing life of their songs, ”Shakira commented in a communiqué. (Recommended: Shakira releases “Girl like me” alongside Black Eyed Peas)
Although without providing figures on the amount of the operation, the company has confirmed through social media the incorporation of Shakira in its catalog, which already includes Dave Stewart (Eurythmics), Debbie Harry (Blondie), Chryssie Hynde (Pretenders), The Chainsmokers or Mark Ronson.
In recent days, the firm has also done 50 percent with the rights to Neil Yong’s repertoire, some 1,180 songs for about $ 50 million, according to an industry source in Variety magazine. (Also: Photos: Shakira and her luxurious mansions in different cities of the world)
The operation took place in parallel with the one that also allowed to incorporate the copyrights and publication of Lindsay Buckingham, about 160 songs, which includes some of the successes that this one wrote for Fleetwood Mac, like Go your own way.
The flow of these movements has increased markedly 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 group Universal Music Publishing for an amount close to about 250 million euros.
In the last few hours another repeat of the movement was the leader of OneRepublic, Ryan Tedder, best known for being the author or co-author of some of the greatest hits of recent years, such as Hello i XO for Beyonce, Rumors say Adele he Suction cup the Jonas brothers.
https://www.youtube.com/watch?v=CnAmeh0-EU
According to some experts, the highest number of such operations recorded in recent weeks should be related, on the one hand, to the cessation of tours for a year due to the covid-19 pandemic ( one of its main sources of income) and, on the other, with the arrival in the White House of Democrat Joe Biden and the possible increase in taxes levied on the capital increase.
On the other hand, the greater interest of the funds to invest in this field would have to do with the predominant role that has begun to play the platforms of “streaming”, in which no longer only monetize the novelties, but also what it is called repertoire songs, especially the big 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 to the point that a repertoire for which 41,000 euros could be paid could be valued at millions today, in a wide range of 4 to 40 million.
Hipgnosis Songs herself confirmed these arguments in her welcome speech to Shakira: “She is an excellent creator who has paved the way from what was a great physical success so far to having more success in ‘streaming’ than most “It’s wonderful for us to welcome the queen of Latin music and more.”