|
Shakira to Make a Deal with Live Nation |
Contributed By: Lion on The Table
Created On: Tuesday, 01 July 2008
Hits: 85
 Shakira
The Colombian-born songstress, whose 2006 hit "Hips Don't Lie" was No.1 in the US, is expected to complete a multimillion-dollar deal with Live Nation before the end of the year, after months of talks.
The New York Post reported on Tuesday that the so-called 360-degree deal could be worth up to $70 million, though one person close to the artist said she should be worth more based on her recent touring success.
Live Nation's strategy is to expand its business beyond handling artists' touring to also offer recording, merchandising, ticket sales and other services that have traditionally been handled by disparate companies.
Shakira's recording rights currently belong with Sony BMG Music Entertainment's Epic Label. The 31-year-old, who has sold more than 50 million albums around the world, still has two more studio albums to deliver -- one in English and the other in Spanish -- under the Epic contract, as well as a greatest hits album.
Sony BMG is a venture between Sony Corp and Bertelsmann.
Shakira grossed more than $100 million in live show ticket sales between 1999 and May 30, 2007, according to Pollstar figures. Though she has had several global hits and sold out shows all over the world, she is particularly strong in the Latin American/Spanish language market.
Last year, Live Nation signed Madonna to a similar 360-degree deal for $120 million over 10 years. It has also signed deals with rapper Jay-Z and U2.
What's On Related: |
Awards