Shakira is the latest star to sell the rights to her music to Hipgnosis Songs Fund.
The 43-year-old Latin megastar has sold the publishing rights to all 145 of her songs – including huge hits such as ‘Hips Don’t Lie’ and ‘Whenever, Wherever’ – to the popular music investment firm.
Shakira said: “Being a songwriter is an accomplishment that I consider equal to and perhaps even greater than being a singer and an artist.
“At eight years old, long before I sang, I wrote to make sense of the world. I know Hipgnosis will be a great home for my catalogue.”
It’s not been disclosed how much she sold the rights for.
However, Neil Young recently sold 50 per cent of his catalogue, which is said to be worth an estimated $150 million (£110 million).
The 75-year-old music legend inked a lucrative deal with Hipgnosis Songs Fund, following their recent acquisition of 100 per cent of former Fleetwood Mac musician Lindsey Buckingham’s entire music collection and producer Jimmy Iovine’s producer royalties.
Half of Neil’s music collection amounts to 1,180 songs.
The firm’s founder, Merck Mercuriadis, said: “This is a deal that changes Hipgnosis forever.
“I bought my first Neil Young album aged seven. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately.
“Neil Young, or at least his music, has been my friend and constant ever since.”
Hipgnosis ensures their client’s music is heard across radio and TV and that they earn a tidy profit in royalties.