Shakira sold her music catalog

[Kimmo 39,177]

Hips don’t lie. Shakira has sold the publishing rights to her catalog to Hipgnosis Songs Fund, the company announced early Wednesday morning — the latest in CEO Merck Mercuriadis’s prolific shopping spree for major stars’ music rights. Hipgnosis bought the entirety of Shakira’s publishing rights for her 145-song catalog, which includes hits such as “Hips Don’t Lie,” “Whenever, Wherever,” “She Wolf,” and “Waka Waka.” The company didn’t disclose financial details of the sale. 

“I know Hipgnosis will be a great home for my catalog,” the singer said in a statement. “I’m so happy to partner with this company led by Merck, who truly values artists and their creations and is an ally to songwriters everywhere who care deeply about the continued life of their songs.”

Songwriters and artists who sell their music catalogs take an immediate payout rather than rolling the dice on their catalogs’ future earnings, while buyers like Mercuriadis hope to profit by building new revenue streams through old songs, via film and TV licensing, merchandise, and other plays. Several insiders who’ve worked on high-profile catalog sales say they expect catalog deals to slow down as capital gains taxes potentially increase under Biden’s presidency, but rumors continue to swirl about other major catalog deals for Hipgnosis and other companies who’ve been active in the space. 
Source

[bionic 14,448]

No doubt this is to dodge paying her fair share of taxes 

[Andreu 35,330]

7 minutes ago, bionic said:

No doubt this is to dodge paying her fair share of taxes 

how exactly?

[bionic 14,448]

23 minutes ago, Andreu said:

how exactly?

Pay less on a lump sum than she would paying continually throughout the future. The article also mentions capital gains taxes

[auburn 907]

More and more artists who have been around for a long time are selling their catalogs. It's intriguing and also scary for the future of the music industry, especially with it becoming less and less profitable with the current climate.

Found this tweet that kind of explains why Shakira and others are doing this.  

[777777777777777777 18,871]

why so many artists are selling their catalogs lately ?

Edited January 13 by 777777777777777777

[LeJudas 5,628]

Ok does this mean music will die and everyone will try to sell cosmetics or movies now 

[Ariana Grindr 2,572]

5 hours ago, LeJudas said:

Ok does this mean music will die and everyone will try to sell cosmetics or movies now 

[IllusionLover 4,155]

We have two types of artists in this industry

The ones who fight for their right to own their art, and the one's who sell it because they want money...

[RAMROD 61,645]

I am not looking forward for some basic singer to rerecord Poem To A Horse,  and more

[dimitristhe 399]

Taylor and Mariah can’t relate. 

[BUtterfield 8 20,164]

8 hours ago, auburn said:

More and more artists who have been around for a long time are selling their catalogs. It's intriguing and also scary for the future of the music industry, especially with it becoming less and less profitable with the current climate.

Found this tweet that kind of explains why Shakira and others are doing this.  

So like does this mean more artists will go independent?

Also will this affect concert tours in the future 

[Reject False Icons 3,036]

But Shakira 

She’s like a Madonna on Latin America, she has countless hits and people know almost all of her songs 

Edited January 13 by Reject False Icons

[weed 41,240]

I mean music will never die lol so streaming is rising, ok? Ariana has 23+ billion Spotify streams... that alone, on Spotify no sales no other streams etc, is over $90M

idg the panic tbh, music is universal and new technology, artists, trends always comes out 

[berlinforme 3,060]

8 hours ago, bionic said:

No doubt this is to dodge paying her fair share of taxes 

Honestly I think it's rather to get a huge sum instead of the peanuts even big artists get through streaming. Probably both.