Colombian singer and songwriter Shakira is the latest star to sell rights to her 145 songs in an undisclosed amount but a report said it was a multi-million dollar deal.

(Photo : Maddie Meyer/Getty Images)

Shakira Sells Rights to Her 145 Songs

Shakira is the latest star so far who decided to sell rights of her 145 songs for a multi-million dollar amount. All of her songs that include Hips Don't Lie, Whenever, Wherever and She Wolf, are included in the deal. Shakira is selling the publishing rights to the London-based music royalties investment firm Hipgnosis.

Shakira's music is one of the sought catalogue in the industry. Her songs made her the best-selling female Latin artist of all time. So far, she has sold more than 80 million records worldwide outpacing other artists.

According to BBC News, Hipgnosis Song Fund struck the deal which was reportedly also acquired rights of Blondie and Neil Young's music.

Even though the company did not disclose the details of how much they paid to get the rights of Shakira's music, it typically pays the equivalent of 15 years' royalties upfront.

Merck Mercuriadis, the company's co-founder, told the BBC News last year many walk away with about 25 years worth of money in one fell swoop and with tax relief.

Doing this will help the artist to have financial security. Meanwhile, Hipgnosis, which owns the songs after the deal, hopes to make a profit by building new revenue streams for the music through TV licensing and film, merchandise, cover versions, and performance royalties.

Read also: Google Recognizes Shakira as Most-Searched Artist for 2020

Why Shakira?

Many have been asking why the company struck a multi-million dollar deal with the Colombian singer. Shakira's hits came more recently than those "legacy" artists.

But it cannot also be denied that Shakira is one of the most successful singers and songwriters for the past 25 years.

At the age of 13, she has sold more than 80 million records since releasing her first album in 1991, won three Grammy awards, and 12 Latin Grammy Awards.

According to a published article in The Guardian, Shakira's first English-language album, Laundry Service, was bought by more than 13 million fans in 2001.

Additionally, her hit singles that include Whenever, Wherever, Underneath Your Clothes, Hips Don't Lie and the 2010 Fifa World Cup song Waka Waka (This Time For Africa) topped the charts in 15 countries.

Recently, her latest album "El Dorado" was a certified diamond in the U.S. In fact, she is one of the three female artists to have two videos that exceed two billion views on YouTube, and her latest single "Girl Like Me" became a viral dance craze on TikTok.

Aside from that, Shakira also starred last year in the Super Bowl halftime show along with Jennifer Lopez. That gives her song catalogue further boost and has increased its value to the investors.

Mercuriadis said in a statement, "She is a superb creator who has led the charge from what was massive physical success to now having bigger success in streaming than most of her contemporaries."

Read also: Is Shakira Retiring Because of Depression?