UK-based song-investment fund Hipgnosis has continued its catalog-acquisition spree by closing a deal with “Hips Don’t Lie” singer and songwriter Shakira.
Hipgnosis unveiled the high-profile purchase – one of several that it’s finalized to this point in 2021 – today, in a formal announcement message that was shared with Digital Music News. The transaction covers 100 percent of the publishing rights across the 145-track catalog of Shakira, who’s sold over 80 million records since releasing her debut album, Magia, in 1991.
The Columbia-born artist rose to prominence with her third studio album and first international effort, Pies Descalzos, in 1995, however. Shakira and Luis Fernando Ochoa cowrote each of the latter work’s 11 tracks, and Shakira has penned all the songs on her eight subsequent studio albums (excepting one cover track on 2010’s Sale el Sol and two tracks on 2014’s Shakira).
Though the financial terms of the deal weren’t disclosed in the release, Hipgnosis reportedly pays well above market value for catalogs, as part of its ambitious long-term vision for music IP. Addressing the acquisition in a statement, Hipgnosis founder (and former Elton John and Iron Maiden manager) Merck Mercuriadis noted Shakira’s global appeal and extensive songwriting experience.
“One step at a time, this incredible woman from Colombia has evolved into one of the most famous and influential people in the world,” Mercuriadis said in part. “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.”
And in a statement of her own, Shakira touted the professional significance of her songwriting achievements. “Being a songwriter is an accomplishment that I consider equal to and perhaps even greater than being a singer and an artist,” the 43-year-old relayed in part.
“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,” continued the three-time Grammy winner (and six-time nominee) Shakira.
Through the first 13 days of 2021, Hipgnosis has also announced deals with Neil Young (covering 50 percent of the creator’s 1,180-track catalog), veteran producer Jimmy Iovine (encompassing his entire 259-song catalog and royalties from 8 Mile and Get Rich or Die Tryin’), and longtime Fleetwood Mac guitarist Lindsey Buckingham (for his 161-song catalog as well as a 50 percent publishing interest in his future works).
Separately, the three-year-old entity’s website now indicates that access is not permitted for individuals navigating to the site from countries including the United States, Canada, and Australia. And investment banking firm Stifel recently downgraded Hipgnosis stock (SONG on the London Stock Exchange) to “neutral.”