Business of music rights: Shakira becomes latest star to sell back catalogue
Hipgnosis Songs Fund adds the Colombian artist to growing portfolio
Shakira has joined Bob Dylan and Stevie Nicks in the growing chorus of chart-toppers cashing in on their back catalogues in big-bucks music acquisition deals.
Colombia-born Shakira - the best-selling female Latin artist of all-time - has sold the rights to her entire catalogue of 145 songs to London-based Hipgnosis Songs Fund for an “undisclosed sum”, reports ShareCast.
Major-league asset
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Hipgnosis is “leading the charge” in song rights acquisitions, says The Guardian. Since launching in 2018, the music investment company has spent “£1.1bn snapping up rights” and “is already in talks on spending a further £1bn on deals” this year, the paper reports.
In the past couple of weeks alone, Hipgnosis has announced the acquisition of Jimmy Iovine’s production royalties, as well as 100% of Fleetwood Mac guitarist Lindsey Buckingham’s publishing catalog, plus 50% of Neil Young’s publishing catalogue.
And the acquisition of 100% of Shakira’s music publishing rights – including both publisher and writer’s share – marks another “major-league music asset”, adds Music Business Worldwide.
With hit tracks including Hips Don’t Lie and 2010 Fifa World Cup theme Waka Waka, Shakira has sold a total of more than 80 million records, won three Grammys and has nearly 20 billion views for the videos on her official YouTube channel.
Top of the ‘song-management’ pops
Co-founded by Merck Mercuriadis and legendary producer Nile Rodgers, Hipgnosis has raised £1.2bn from investors since launching and has acquired more than 120 catalogues to date for artists including Blondie, Barry Manilow, Timbaland and the Kaiser Chiefs.
In an interview with Rolling Stone in October, Mercuriadis emphasised that he was “not in the publishing business, I’m in the song-management business”.
“These are highly emotional transactions,” said the Hipgnosis CEO. “As songwriters, they’re effectively giving their children to surrogate parents, and they know they can trust me and that I’ll respect their art and only use songs in ways they’re comfortable with.
“We only buy directly from songwriters because I’m looking to empower songwriters and the songwriter community.”
Other chart-topping deals
In one of the biggest acquisitions yet in the booming music-rights market, Universal Music last month announced what The New York Times described as a “blockbuster deal” to buy Bob Dylan’s entire publishing catalogue. The collection of 600-odd songs reportedly sold for the tune of more than $300m (£220m).
Universal - which also bought the rights to Prince’s “legendary” music vault in 2017 - called the Dylan deal the “most significant music publishing agreement this century and one of the most important of all time”.
The buy-up was announced a week after Fleetwood Mac star Stevie Nicks sealed a deal to sell the majority stake of her publishing catalogue to music publisher Primary Wave for $100m.
Music rights acquisitions has become an increasingly big business in recent years.
A total of more than $4bn was spent on buying artists’ music catalogues in 2019, according to MIDiA Research. And that figure was expected to be “easily surpassed” in 2020, says The Guardian.
Mark Mulligan, an analyst at MIDiA Research, said: “The music publishing deal market is at its peak. There has never been a better time, there may never be a better time, for a hit artist from the 70s, 80s and 90s to sell their rights.
“These deals are being done at 17, 18, 19, 20 times value.”
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Mike Starling is the former digital features editor at The Week. He started his career in 2001 in Gloucestershire as a sports reporter and sub-editor and has held various roles as a writer and editor at news, travel and B2B publications. He has spoken at a number of sports business conferences and also worked as a consultant creating sports travel content for tourism boards. International experience includes spells living and working in Dubai, UAE; Brisbane, Australia; and Beirut, Lebanon.
-
5 category 5 cartoons about hurricane Helene
Artists take on precarious conditions, planning ahead, and more
By The Week US Published
-
Wolfs: 'comedy thriller' stumbles despite George Clooney and Brad Pitt
While the crime caper might 'pleasingly pass a Saturday night' its star-studded duo cannot ultimately salvage it
By The Week UK Published
-
The death of Hassan Nasrallah
In the Spotlight The killing of Hezbollah's leader is 'seismic event' in the conflict igniting in the Middle East
By The Week UK Published
-
The celebrity winners of 2023
Why everyone's talking about Girl power's still got it as Taylor Swift, Barbie and Britney all come out on top
By Harriet Marsden, The Week UK Published
-
The Marvels flop: end game for superhero box office streak?
Why everyone's talking about The 33rd film in the Marvel Cinematic Universe earned just $47 million on its opening weekend, prompting claims of 'superhero fatigue'
By Keumars Afifi-Sabet, The Week UK Published
-
Britney Spears: snippets of star's 'bombshell' memoir released
Why's everyone talking about 'Tell-all' book to share details of singer's life during her conservatorship and decades-long career
By Julia O'Driscoll, The Week UK Published
-
The Great British Bake Off’s most memorable moments
Why Everyone’s Talking About Show returns to Channel 4 next week with 12 bakers ready to take on the challenge
By Julia O'Driscoll Published
-
HowTheLightGetsIn London: philosophy and music on Hampstead Heath
Why Everyone’s Talking About The Week has teamed up with this unique festival of ideas to offer readers a 20% discount
By The Week Staff Published
-
The naked dress: feminist fashion or novelty ‘nude’ apron?
Why Everyone’s Talking About Critics divided on whether new trend is bold political statement or just post-pandemic sartorial fun
By The Week Staff Last updated
-
Rebel Wilson and the outing backlash against The Sydney Morning Herald
Why Everyone’s Talking About Wilson found herself in ‘a very hard situation’ as Australian newspaper sought details of new partner
By The Week Staff Published
-
TikTok and the £50k curry: how Johnny Depp has begun his comeback
Why Everyone’s Talking About Actor has made a number of public appearances since his libel victory over his ex-wife
By The Week Staff Published