by Helvine Achieng
January 14, 2021
Superstar Shakira has become the latest artist to sell the rights to her catalogue of 145 songs to a London listed Hipgnosis song fund. The three-time Grammy award winner has sold over 80 million records and has a strong following on music streaming platforms like Spotify and YouTube.
Shakira is famous for her songs that have made an impact from time to time in memorial to date with hits such as "Hips don't lie ", "whenever wherever "and 2010 FIFA world cup song Wakawaka (This time for Africa) being her major signatures in music.
With the pandemic on board, live concerts have been shut down, and a growing list of musicians have sought to monetise their previous catalogues. Bob Dylan sold his catalogue last month, and musicians like Neil Young with Dylan sold his too to universal music groups in December.
"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 surge in online music has sent several old hits back to the top of today's charts. Jp Morgan stated that Hipgnosis is an attractive investment given it has issued long term revenues due to copyright laws. The investment specialist firm did not disclose financial details on the deal with Shakira and Hipgnosis.
Hipgnosis founder Merck Mercuriads hailed the deal with Shakira calling her the Queen of Latin Music.