It seems like most popular musicians such as Madonna and Jay-Z are issuing their records through Live Nation, and now Shakira is set to do the same thing in a deal that’s worth $30 million with Sony.
According to sources for The Hollywood Reporter, the mega-concert promoter is set 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.
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.