The three-time Grammy award winner, famous for her songssuch as "Hips Don't Lie", "Whenever, Wherever", "Underneath YourClothes" and 2010 FIFA World Cup song "Waka Waka (This Time ForAfrica)", has sold over 80 million records and has a strongfollowing on music streaming platforms Spotify and YouTube.
The pandemic has all but shut down live concert earnings anda growing list of musicians have sought to monetise their backcatalogues. Bob Dylan sold his back catalogue last month and hehas been followed by others, such as Neil Young.
A surge in online music streaming, which has sent severalold hits back to the top of today's charts, has added to thedraw for investors. JP Morgan said Hipgnosis was an attractiveinvestment given its long-term revenues due to copyright laws.
"At eight years old, long before I sang, I wrote to makesense of the world," Shakira, 43, said in a statement.
"Each song is a reflection of the person I was at the timethat I wrote it, but once a song is out in the world, it belongsnot only to me but to those who appreciate it as well," shesaid. "I know Hipgnosis will be a great home for my catalogue."
The specialist investment firm did not disclose financialdetails of the deal, which is Hipgnosis' most recent afterothers this year with Neil Young, Fleetwood Mac guitaristLindsey Buckingham and record producer Jimmy Iovine.
Bob Dylan sold his back catalogue to Universal Music Groupin December.
Hipgnosis founder Merck Mercuriadis hailed the deal with Shakira, calling her "the Queen of Latin Music".
"What no one should ever take for granted is that she is oneof the most serious and successful songwriters of the last 25years, having written or co-written virtually every song she hasever recorded," he said.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by EdmundBlair) ((Yadarisa.Shabong@thomsonreuters.com; Twitter:
