Colombian superstar Shakira has sold her entire music catalogue containing 145 songs.
According to Billboard, the singer sold 100 per cent of her music publishing rights, including publishing and writer’s share of income, to Hipgnosis Songs Fund Limited.
The catalogue comprises hits like Hips Don’t Lie and Whenever, Wherever.
“Being a songwriter is an accomplishment that I consider equal to and perhaps even greater than being a singer and an artist,” Billboard quoted a statement from the songstress.
“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.”
Shakira’s catalogue will still be administered by Sony/ATV under an agreement that remains in place for another seven years, the publication revealed.
While Hipgnosis has not disclosed any financial details related to the acquisition, according to the BBC, the company usually pays the equivalent of 15 years’ royalties upfront.
Shakira is the latest of several artists who have made the decision to sell their music.
In late 2020, Bob Dylan sold his entire catalogue of more than 600 songs worth an estimated R4.5 billion to Universal Music.