The deal is reportedly worth nine figures
Enrique Iglesias AFP

Famed Latino singer Enrique Iglesias has sold his music catalogue, including global hits such as Bailando and Héroe, to Influence Media partners, Bloomberg reported on Wednesday. The company will also manage his recordings, the rights to his name, image and likeness.

The value of the deal wasn't disclosed, but a person with knowledge of the operation told the media outlet that it amounts to nine figures (that is, at least $100 million). It includes the up-to-date catalogue and, according to Axios, is one of the largest deals of the kind for a Latino artist. It includes 11 studio albums, five compilation albums and 62 singles.

Influence Media Partners was founded in 2018 by Lylette Pizarro and Lynn Hazan. "Lylette got a bargain," Iglesias' longtime manager Fernando Giaccardi said during a joint phone interview with Bloomberg. "We could've gotten more money if we went to more places but we didn't because it wasn't about that. It was about the relationship, how can we help each other and brand the music," he added.

In 2022, BlackRock and Warner Music Group invested $750 million in Influence Media to acquire catalogs from female and diverse artists. It has already purchased stakes in several of them, including those of Blake Shelton and Julia Michaels.

Enrique Iglesias is currently performing with Pitbull and Ricky Martin in the Trilogy Tour, and is preparing a new album. He's planning to release it in February and, according to Giaccardi, it will be his last. The project is titled "Final vol. 2" and is not included in the deal with Influence Media Partners.

According to Spotify, Enrique Iglesias has sold over 180 albums worldwide and headlined 10 sold out tours, performing in front of 10+ million fans. "He's undeniably the biggest Latin recording music artist in music history achieving 154 #1 singles across Billboard charts with a total of 27 #1 singles on the Billboard's Hot Latin Songs Chart. He currently holds the record for most number ones in the chart's history."

"Enrique has been celebrated with countless awards as a singer and songwriter that include multiple GRAMMYs, Billboard awards, ASCAP and more. He remains as one of the most streamed and viewed artists with over 20 billion views on YouTube and 16 billion audio streams," added the platform, in which Iglesias currently stands at number 186 in the world with over 26 million monthly listeners.

Moreover, a report from Billboard Boxcore in September showed Enrique Iglesias is at 6th place among the top Latin performers since the mid-80s. The report shows he has a gross revenue of $171.1 million.

© 2024 Latin Times. All rights reserved. Do not reproduce without permission.