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Shakira has joined the growing list of top-notch songwriting artists who have decided to sell their catalog of songs, a list that in recent weeks has also included the names of Bob Dylan, Neil Young or Lindsay Buckingham, a former member of Fleetwood Mac.
In the case of the Colombian, the recipient of one hundred percent of her current repertoire (which is made up of 145 songs) has been Hipgnosis Songs Fund, which is a British song management company and investment in music intellectual property co-founded in 2018 by Nile Rodgers and Merck Mercuriadis, who at the time led the careers of figures like Beyoncé and Elton John.
“I am honored that songwriting 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 partner with this company run by Merck, which truly values artists and their creations and is an ally for songwriters (…) who care deeply about music. continuous life of his songs, “said Shakira in a statement.
Although without offering figures for the amount of the operation, the company has confirmed through social networks the incorporation of Shakira to its catalog, of which Dave Stewart (Eurythmics), Debbie Harry (Blondie), Chryssie Hynde (Pretenders) are already part , The Chainsmokers or Mark Ronson.
In recent days, the firm also took 50% of the rights to Neil Yong’s repertoire, some 1,180 songs for about 50 million dollars, an industry source informed Variety magazine.
The operation took place in parallel with which also allowed to incorporate the copyright and publication of Lindsay Buckingham, about 160 songs, which includes some of the hits that he wrote for Fleetwood Mac, such as Go your own way.
The flow of these movements has increased notably in recent weeks by composers of all styles and skins, 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 a close amount. to about 250 million euros.
In the last hours another who repeated the movement was the leader of One Republic, Ryan Tedder, known above all for being the author or co-author of some of the biggest hits of recent years, such as Halo and XO para Beyonce, Rumour Has It Adele the Sucker the Jonas Brothers.
He streaming, the most important factor
According to some experts, the largest number of operations of this type registered in recent weeks would have to do, on the one hand, with the stoppage of tours for a year due to the covid-19 pandemic (one of its main sources of income) and, on the other hand, with the arrival to the White House of the Democrat Joe Biden and the possible increase of the taxes that impose the capital increase.
On the other hand, the greater interest of funds to invest in this field would have to do with the predominant role that investment platforms have begun to play. streaming, in which not only the novelties are monetized, but also what is called repertoire songs, especially the greatest hits, now with a longer or renewed life.
According to an estimate that public The Wall Street Journal, music catalogs are being revalued year by year to the point that a repertoire for which 41,000 euros could be paid could be currently valued in millions, in a wide range of 4 to 40 million.
Hipgnosis Songs itself confirmed these arguments in its welcome greeting to Shakira: “She is an excellent creator who has paved the way from what was a great physical success to now having greater streaming success than most of her contemporary colleagues. . It is wonderful for us to welcome the queen of Latin music and much more ”.
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