The lack of concerts due to the pandemic is due to the fact that many artists are using the rights of their compositions.
The Colombian singer Shakira has sold the rights to his 145 songs to the British inversion company Hipgnosis Songs Fund in the midst of the coronavirus crisis, which has affected artists’ intrusions due to lack of competition, Reuters reports.
“Shakira is one of the more serious composers and exits for the past 25 years, having written or co-written practically all the songs he grabbed “, Hipgnosis signaled in his Twitter account, dándole welcome to the three times Grammy winner. The song management company and investment in intellectual property music has not revealed the economic details of the accordion.
For its part, the Colombian artist in a communiqué called Hipgnosis “will be a big hogar“For his song catalog.” For the past 8 years, many antennas for song, have been written around the world. Each song is a reflection of the person who was at the time of writing, but a time ago a song was sold worldwide, nee only I belong to, sino también a quienes la aprecian “, dijo Shakira.
Consequences of covid-19
The coronavirus pandemia case has borne the won by the conciertos in vivo and each time more artists are busy monetizing their themes. In this context, the increase in reproductions in the streaming platforms has encouraged investors to invest in companies such as Hipgnosis, which contributes to the London Stock Exchange.
This company has purchased more than 120 catalogs, and recently agreed to deal with Fleetwood guitarist Mac Lindsey Buckingham, producer of discs Jimmy Iovine and singer Neil Young, who paid an estimated 150 million dollars for a participation of 50% of the derechos of 1,180 compositions. For its part, Bob Dylan sold in December all his catalog to Universal Music Group for an estimated value of 300 million dollars.
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