Shakira’s Global Rights Purchased for Over $300 Million in 2008

From the Newsroom – Shakira Brasil (SBR) had access to new details of the millionaire agreement signed by the Colombian with Live Nation, in 2008. The 360º contract signed between the parties at the time ceded all of Shakira’s global rights to the live entertainment giant for a ten-year period; and involved everything from tours to music recording, through endorsements, sponsorships, merchandising and image rights. In return, the singer would receive a voluminous amount of money. At the time, the press even speculated the figure that the Latin star would receive for the transfer of his rights and several vehicles bet on values ​​in the range of 60 and 70 million dollars. But the real value was well above the advertised. Due to a lawsuit for alleged tax evasion taking place in Spain, several details of the artist’s heritage came to light and one of them was the value of the contract made with Live Nation. According to documents from the Spanish Tax Agency, it was agreed that the live entertainment company would pay the singer the enormous amount of U$348,001,500 (three hundred and forty-eight million, one thousand five hundred dollars). This is around almost R$ 2 billion, taking into account the exchange rate practiced by the Brazilian Central Bank on today’s date (08).

The SBR had already revealed, exclusively, that Live Nation expected to earn gross revenues of $ 800 million in the 10 years of partnership with the Colombian star. The agreement included touring, tour merchandising, secondary market (resale) tickets, music recording, licensing and other retail merchandise, non-touring sponsorships and endorsements, DVD and broadcast rights, fan club, website and literary rights. .

The 360º contract was an unprecedented model at the time and shook the industry. Live Nation has shelled out huge sums of money to sign the biggest artists in every genre of music. Only five artists in the world were awarded this type of contract. In addition to Shakira, they signed with the company Jay-Z, U2, Madonna and Nickelback.

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About Banner Leon

Videogames entered his life in the late '80s, at the time of the first meeting with Super Mario Bros, and even today they make it a permanent part, after almost 30 years. Pros and defects: he manages to finish Super Mario Bros in less than 5 minutes but he has never finished Final Fight with a credit ... he's still trying.

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