Panamanian songwriter Erika Ender, known for her collaborations with artists like Luis Fonsi and Ricky Martin, has sold her music catalogue to London-based investment firm Hipgnosis Songs Fund. The financial details of the deal were not disclosed.
Ender's songwriting credits include the global hit "Despacito" by Luis Fonsi and Daddy Yankee, which spent a record-breaking 16 weeks at number one on the Billboard Hot 100 chart in 2017. Her other notable compositions include "Bailando" by Enrique Iglesias, and "Me Quedo Contigo" by Ricky Martin.
The sale of Ender's music catalogue is part of a growing trend in the music industry, where artists and songwriters are selling their music rights to investment firms and publishers. These companies then collect royalties from performances, broadcasts, and other uses of the songs, providing a steady income stream for the sellers.
Music rights can take various forms, including publishing rights, master recording rights, and synchronization rights. Music rights societies, such as ASCAP, BMI, and SESAC, help administer and collect royalties for these rights on behalf of their members.
The sale of music catalogues has become increasingly popular in recent years, with artists and songwriters recognizing the potential value of their back catalogues. Some notable deals include the sales of Bob Dylan's catalogue to Universal Music Publishing Group, and the sales of Neil Diamond's and Bob Seger's catalogues to Sony/ATV Music Publishing.
Music Business Worldwide reported the news of Ender's deal with Hipgnosis, but the exact terms and financial details have not been disclosed.
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