Shakira "Queen of Latin Music" sells the rights to her songs
Colombian pop star Shakira has become the latest artist to sell the rights to her 145 songs, as she struck a deal with Hyenosis Song Fund, listed on the London Stock Exchange, the company said on Wednesday, after the coronavirus outbreak undermined the revenue of singing concerts.
The star has sold more than 80 million records, won three times a Grammy Award, and has a huge following on the music broadcasting platforms Spotify and YouTube, and the pandemic nearly halted the revenues of live singing concerts, and a large number of artists sought to sell the rights to their music albums. Bob Dillon sold his songs last month, and others followed, including Neil Young.
The boom in electronic music streaming, which has brought many old songs back to prominence these days, has boosted the investment in this area. Investment bank JP Morgan said Higenosis was an attractive investment given its long-term revenue due to intellectual property rights laws.
"When I was eight years old, long before I practiced singing, I was writing to find meaning in the world," Shakira, 43, said in a statement. "Every song reflects what I was when I wrote it, but once the song gets out into the world, it is It does not belong to me alone, but to everyone who appreciates it ... I know that Higenosis will be a great home for my songs. "
The company's founder, Mercuriades, praised the deal with Shakira, describing her as "the queen of Latin music."
