By Sabrina Lynch
- Concord Music has scored a big one by acquiring Latin Superstar Daddy Yankee’s music catalog for $217.3M
- Latin Music generated $685M in first half of 2024 so this sale mirrors the increased global demand for Latin genres
Puerto Rican rapper Daddy Yankee is cashing in on his hits by selling his publishing rights and recorded music catalog for a cool $217.3 million. The reggaetón star’s rights to global chart-toppers “Gasolina”, “Rompe” and Luis Fonsi joint “Despacito” will be part of the largest and most significant deals in Latin music, a genre which continues to soar to new heights and set U.S. revenue records. The agreement will cover all of Daddy Yankee’s tracks produced between 2002 – 2019, plus his name, image and likeness (NIL) rights. Concord is already making bank with its catalog of more than 1.3 million songs, valuing the company at $5.1 billion, so acquiring the works of the Latin multi-platinum artist is the cherry on top of the cake to end 2024.
Why This Matters: Latin artists are dominating the music game right now and the Concord deal couldn’t have come at a more opportune time. Music sales need a boost from Latin music, which is leading U.S. streaming growth which is up 15.1% from this time last year. The top-selling albums of 2024 have been from the cliques of Bad Bunny and Karol G, with an influx of new performers including Peso Pluma, Ca7riel & Paco Amoroso, and Snow Tha Product. Concord is following the footsteps of private equity firms who are acquiring high-value music catalogs. From Dr Dre selling his assets to Universal Music Group, to Future selling his music publishing catalog to Influence Media Partners for $65–$75 million, the money is where the royalties lie.
What’s Next: Corporations are looking to cultural icons to bolster their financial portfolios. Michael Jackson’s catalog alone – sold to Sony Music – valued the totality of its rights at over $1.2 billion, and has since generated $3.3 billion in earnings. The sale of Daddy Yankee’s catalog is a breakthrough for the Latin music industry and this will open up the floodgates for more genres to gain global recognition while corporations come up with more innovative ways of monetizing music catalogs.
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