Hits Don’t Lie: Shakira sells entire song catalogue to Hipgnosis
Shakira has become the latest musician to cash in on her song rights after selling her entire back catalogue to music royalty fund Hipgnosis.
The London-listed company today said it has acquired the rights to Shakira’s portfolio of 145 songs, including hits such as Hips Don’t Lie, She Wolf and 2010 World Cup anthem Waka Waka.
The Colombian singer has sold over 80m records, making her the bestselling female Latin artist of all time.
She has won a host of accolades including three Grammy awards and is one of only three female artists to have two videos that have racked up more than 2bn views on Youtube.
The deal is the latest in a string of acquisitions for Hipgnosis, which plans to spend around £1bn buying up the rights to song catalogues.
The company, which is led by music industry bigwig Merck Mercuriadis, generates revenue from placing songs in films and TV shows.
“One step at a time, this incredible woman from Colombia has evolved into one of the most famous and influential people in the world,” 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.”
The deal came a week after Hipgnosis bought a 50 per cent stake in Neil Young’s catalogue of songs for a reported $150m (£110m).
Other recent acquisitions include a portfolio of songs written by Lindsey Buckingham, including Fleetwood Mac hits Go Your Own Way and The Chain.
Hipgnosis is one of a number of companies looking to cash in on the surging value of music recording rights.
In November rival Round Hill Music raised $282m from its initial public offering on the London Stock Exchange.
It has already identified more than 120,000 songs by artists including The Beatles, Celine Dion, The Rolling Stones, Louis Armstrong, Elvis Presley and Katy Perry.
Universal Music last month also got in on the act, buying Bob Dylan’s entire catalogue of 600 songs.
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