Enrique Iglesias sells his entire musical catalog and image rights for hundreds of millions of dollars | Culture

Bob Dylan, Shakira, Sting, Justin Bieber, Neil Young, Red Hot Chili Peppers, Bruce Springsteen… and, now, Enrique Iglesias. This Wednesday, the 48-year-old singer from Madrid joined that select club: that of artists who have decided to sell their music catalogues, lose the rights to their songs and, in exchange, pocket a handful of millions. As the economic media has announced exclusively Bloomberg, Iglesias has sold all of his music to Influence Media Partners. Furthermore, he has also sold them his rights to his name and his image.

At the moment, the value of the catalog has not been known, that is, the money that the artist has pocketed, but sources close to him who have preferred not to identify themselves have confirmed in the publication that “a nine-figure amount”, that is , greater than one hundred million dollars (a minimum of 93 million euros). The New York firm has rights to other artists, such as the American country singer Blake Shelton, the singer and songwriter Julia Michaels (who has just provided the soundtrack to the latest Disney film, wish), composer Ali Tamposi (creator of Havana, by Camila Cabello; either Break My Heartby Dua Lipa) and rappers Logic and Future.

In an interview with Bloomberg, Iglesias’ manager, Fernando Giaccardi, joked that the company had achieved “a bargain.” “We could have made more money if we had gone to more places, but we didn’t because that wasn’t what it was about. It was a question of the relationship, of how we could help each other and position that music,” says the representative, who explains that Iglesias himself has been very present in the negotiation process. At the end of 2020, Bob Dylan sold his catalog to Universal for about 300 million, and Sting for about 250 million in February 2022, so those are the prices around which the market moves. The known record (because there are cases, like Shakira’s, where the agreed amount is not known) is currently held by Bruce Springsteen, with the sale of his catalog to Sony Music two years ago for 500 million dollars.

Enrique Iglesias
Enrique Iglesias during his concert with Ricky Martin and Pitbull at the Crypto.com Arena in Los Angeles, California, on November 30, 2023.MARIO ANZUONI (REUTERS)

With almost 30 years of career and after a time in which he dominated the summer hit charts, thanks to the superhits Dancing, in 2014, The forgiveness, in 2015, and The heart hurts, in 2016, these months, the son of Julio Iglesias and Isabel Preysler is present again. Since October he has embarked on a tour with Ricky Martin and Pitbull, which has taken them to 25 large venues in the United States and Canada, including Madison Square Garden in New York or the Crypto.com Arena in Los Angeles, and which will end this weekend with two shows in Vancouver, at Rogers Arena. At the end of September she released her latest song, This is life, along with the Argentine singer María Becerra. It is the first single from their album Final Vol. 2which follows Final Vol. 1, which he launched in 2021 and which he already explained that it would have two parts and would be his last work. It will be launched next February.

Although he actively retires from composing or recording songs, that does not mean that Enrique Iglesias’ career is over. He can continue releasing single songs and collaborations, he can re-record his greatest hits or make compilation albums, and he can continue touring, which would increase the value of his catalog. Born in Madrid and settled in Miami for years, Iglesias is a top-level figure in the United States and Latin America, where he continues to generate expectation and fill stadiums; In fact, throughout his career he has made 10 tours with more than 10 million fans. We must not forget that he has sold 180 million copies of his 11 works (plus three compilations) and that he has had more than 154 songs on the Billboard charts, the official music meter in the United States.

As he explained in an interview in Five days A year and a half ago, the director of the legal firm specialized in the music industry Sympathy for the Lawyer, Manuel López, the purchase of this type of catalogs helps to reactivate the useful life of those old songs. “There are many options to open new avenues of entry to songs that were gathering dust without anyone moving them through the audiovisual, commercial, video game or other sectors that might be interested in music as an element of value.”

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