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SHAKIRA SELLS ENTIRE MUSICAL CATALOG

Colombian singer and international superstar Shakira is the latest musician to sell their entire musical catalog.

Word on the street is that the singer, who has sold over 80 million records has sold 100% of her musical publishing rights to Hipgnosis Songs Fund Limited for an undisclosed sum. Her treasure chest of music consists of 145 songs, and she’s been making music since 1991.

Merck Mercuriadis, founder of Hipgnosis took to the press after the venture’s unveiling to say:

“One step at a time, this incredible woman from Colombia has evolved into one of the most famous and influential people in the world. 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.

This is the result of her being a determined force of nature and having written songs the world is incredibly passionate about. It’s wonderful for us to welcome, Shakira, the Queen of Latin Music and much more, to the Hipgnosis family.”

Here’s what Shakira had to say about the move:

“Being a songwriter is an accomplishment that I consider equal to and perhaps even greater than being a singer and an artist. At 8 years old—long before I sang—I wrote to make sense of the world. 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. I’m humbled that songwriting has given me the privilege of communicating with others, of being a part of something bigger than myself.

I know Hipgnosis will be a great home for my catalogue—and I’m so happy to partner with this company led by Merck, who truly values artists and their creations and is an ally to songwriters everywhere who care deeply about the continued life of their songs.”

While some people feel that this might be an insane move on her part to sell her art when she can profit off of it long after she’s dead, when you look at it, once you sell your art for mass consumption, the art is no longer yours.

As stated earlier, no word on how much she sold the catalog for, but the word is that it’s in the hundreds of millions.

With tax relief, many walk away with “about 25 years worth of money in one fell swoop”, the company’s founder, Merck Mercuriadis, told the BBC last year.

That provides the artists with immediate financial security, while Hipgnosis – which owns the songs in perpetuity – hopes to profit by building new revenue streams for the music via film and TV licensing, merchandise, cover versions and performance royalties.

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