Although Live Nation has yet to weigh in on the topic, the U.S. spokesman for Shakira is telling the media that, yes, the hip-shaking Colombian superstar has left her record company and is joining the promotion behemoth.
Shakira has reportedly signed a 10-year deal that encompasses touring, recording, sponsorship and merch. Although an exact figure is not being reported, estimates are between $70 million and $100 million. Shakira is a concert draw in the U.S., but her appeal in the States does not compare with her massive draw in Latin America and major Latin markets, where she’ll collect $1 million grosses per night.
Shakira has three more records under contract with Epic – one English, one Spanish and a compilation – according to the New York Times, but her touring will have a Live Nation banner immediately.
Meanwhile, amid a sputtering economy, Live Nation stock was at $9.93 a share at press time.