Shakira to Sign $30 Million Deal With Live Nation, Sony
Shakira is taking cues from Madonna and Jay-Z: she'll forgo standard music-industry convention and issue her records through Live Nation and her former label, Sony,
According to THR sources, the mega-concert promoter is nearing a projected $30 million-deal with Sony to release Shakira's next three albums, thereby giving Live Nation a cut of the profits from sponsorships, merchandising and music recordings. The companies will divide the sales, with Sony as distributor.
The New York Post first reported the news Monday morning.
VIDEO: Shakira Dances, Bathes in 'Addicted to You'
In 2008, Shakira left Sony's Epic label to sign a 10-year deal with Live Nation, numbered at between $70 million and $100 million.
Last December, Live Nation's chief executive, Michael Rapino, brokered an estimated $30 million deal with Universal Music Group to record and distribute Madonna's new album, MDNA.
Shakira, the multi-platinum songstress behind such hits as "Hips Don't Lie," released her latest music video for the single "Addicted to You" last week; in April, she took home four trophies at the Billboard Latin Music Awards in Miami. Among the honors were Song Artist of the Year, Female; Albums Artist of the Year, Female; Latin Pop Songs Artist of the Year, Solo; and Social Artist of the Year.