Latina pop superstar Shakira signs major deal with Live Nation
Last Updated: Thursday, July 3, 2008 | 3:06 PM ET
CBC News
Shakira, seen here at the Latin Grammy Awards in New York in 2006, has sold more than 50 million albums worldwide. (Seth Wenig/Associated Press)Colombian pop singer Shakira is the latest music world superstar to sign a long-term, wide-ranging deal with concert promoter and venue operator Live Nation.
The pop star announced a 10-year deal that will cover her recordings, tours, sponsorship and merchandising.
The value of the deal was not disclosed, but music industry sources have estimated it at between $70 million and $100 million US.
The comely singer, a popular international touring performer for her high-energy concerts, is still under contract with Epic Records for three more albums: one in English, another in Spanish and a compilation of hits.
At 31, she is already a veteran performer, having released her debut album in 1991, at age 13. Her English-language crossover came in 2001 with the album Laundry Service. She is one of the Latin world's most popular artists, having sold more than 50 million albums worldwide.
She follows in the footsteps of fellow music world heavyweights like Madonna, Jay-Z and U2 in signing wide-ranging, so-called "360 deals" with Live Nation versus traditional contracts with record labels.
Live Nation, which built its reputation on its large base of concertgoers who attended prominent events it produced, also owns and operates the House of Blues performance venues.
In recent years, the company has aggressively expanded into merchandising, as well as strengthened and used its strong web presence to build artists' relationships with their fanbase.
