- The Colombian singer and songwriter Shakira passed the control of 145 songs to the fund;
- Financial details of the transaction were not disclosed.
Colombian Shakira is another great music star to sold her song catalog to Hipgnosis, the investment fund created by Merck Mercuriadis.
The company now becomes responsible for managing and authorizing the use of this material in films, playlists or as samples. The value of the transaction was not disclosed. The Colombian singer and songwriter passed the control of 145 songs to the fund.
Wednesday’s deal continued into a busy 2021 for the London-based song rights investment company, which last week announced deals for the rights to the music of producer Jimmy Iovine, Fleetwood Mac guitarist Lindsey Buckingham and the folk-rock start Neil Young. Hipgnosis bets on the appreciation of musical works with the increasing popularity of streaming services.
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Hipgnosis acquired Shakira’s previous catalog, including a share of the writer’s income, according to a statement on Wednesday.
“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,” Shakira said in a statement. “I know Hipgnosis will be a great home for my catalog.”
“One step at a time, this incredible woman from Colombia has evolved into one of the most famous and influential people in the world,” said Hipgnosis founder and CEO Merck Mercuriadis, calling Shakira “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.”