• Song Sales - Why Bob Dylan, Neil Young, And Other Musicians Are Cash In Right Now

After Bob Dylan and Neil Young, Shakira was the last artist to sell the rights to her songs to the investment fund Hipgnosis Songs Fund.

The Colombian, author of global anthems such as

Hips don't lie, Whenever, Wherever

or the 2010 World Cup anthem,

Waka Waka

, has disposed of the rights to

145 songs from her catalog, one of the most popular on platforms. like Spotify or Youtube.

The agreement is part of a trend in the world of music that the pandemic has exacerbated: faced with the impossibility of offering concerts or embarking on international tours, many artists see the sale of their old songs as a way to

monetize their catalogs

.

An easy way to obtain income in a black year for the sector in which

music

streaming

has become a new mine that moves billions between YouTube and Spotify.

The investment fund that has closed the deal with Shakira also owns part of the catalogs of other artists such as

Beyoncé, Jennifer López, Rihanna, Enrique Iglesias and Withney Houston

.

The amount of the agreement has not been disclosed.

Throughout her career, the Colombian artist has sold more than

80 million

records.

Winner of three Grammys, Shakira is also the author of most of her songs.

"At the age of eight, long before singing, I was writing to make sense of the world," says the singer in a statement. "Each song is a reflection of the person I was at the time I wrote it, but once a song goes out into the world, it no longer only belongs to me, but also to those who appreciate it ».

"Hipgnosis will be a good home for my songs," he added.

Behind the investment fund, based in the tax haven of Guernsey, is Merck Mercuriadis, which was the

manager of artists such as Elton John, Guns N 'Roses, Morrissey, Iron Maiden and Beyoncé

, who has stated in a statement that Shakira is "the queen of Latin music "and" one of the most serious and successful songwriters of the last 25 years, having written or co-written all the songs she has recorded "throughout her career.

This month of January marks a year since the ratification by the Spanish Justice that Shakira committed a

tax fraud of 14.5 million euros

between 2012 and 2014 by not paying the Personal Income Tax (IRPF) despite residing in Spain.

The artist from Barranquilla, who starred with Jennifer López in the last Superbowl, had a world tour scheduled in 2021 that was canceled due to the coronavirus.

According to the criteria of The Trust Project

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  • Pop

  • Colombia

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