Many artists around the world have sought to sell the rights to their music albums after the COVID-19 pandemic halted live concert revenues.
Recently, Colombian pop star Shakira made a deal with the London Stock Exchange-listed company, Hypnosis Song Fund, to sell the rights to her 145 songs. The star has sold over 80 million records to date, while Bob Dylan sold his songs last month, followed by others including Neil Young. The resurgence of electronic music streaming, which has brought many old songs back to prominence lately, has increased the value of investment in this area. JP Morgan Investment Bank stated that Hypnosis represents an attractive investment due to its long-term revenues stemming from intellectual property laws.
Shakira confirmed in a statement, "When I was eight years old, long before I started singing, I wrote to find meaning in the world." She added, "Every song reflects who I was at the time it was written, but once the song is out in the world, it belongs not just to me but to everyone who appreciates it... I know that Hypnosis will be a great home for my songs."
Mirk Mercuriadis, the founder of the company, expressed his happiness in making this deal with Shakira, calling her the "Queen of Latin Music."
