January 13th 2021, the British company Hipgnosis Songs Fund announced that Shakira, the famous singer sold the rights to all of her songs.
It’s a total of 145 songs and the amount of the transaction hasn’t been revealed yet.
Shakira is not the only one, other artists like Bob Dylan, also gave away their rights.
Hipgnosis Songs Fund was created in 2006 by Merck Mercuriadis, former manager of Beyoncé and Elton John.
The company rose $1,61 billions of funds and owns now rights of more than 120 catalogues.
Like many others, the company takes profit from music valorization during streaming era.
They earn royalties every time a song is played on the radio, is streamed, or is broadcasted at places like malls or used in commercials or films.
They even get a percentage on sales from albums and singles.
Most of the artists that sell their rights are approaching the end of their career and are starting to prepare for their succession.
