Concord has concluded the purchase of key elements of the music publishing and master recordings catalogue of Latin superstar Daddy Yankee.
The deal includes hits such as Gasolina, Con Calma and Despacito, the collaboration with Luis Fonsi and Justin Bieber that became a global smash.
The agreement, which encompasses Daddy Yankee’s work from 2002 to 2019, also includes certain name, image and likeness rights.
Although there is no official comment on the purchase price of the Daddy Yankee catalogue, bond rating agency KBRA this month reported that Concord had acquired a catalogue from “a highly successful Latin Music artist and songwriter” valued at $217.3 million.
The catalogue will be managed out of Concord’s Miami office. It adds to Concord’s catalogue of more than 1.3 million songs, composed works, plays, musicals and active recordings.
“Since he burst onto the scene, Daddy Yankee has been at the forefront of not only reggaeton, but pop music generally,” said Concord CEO Bob Valentine.
“We were incredibly excited by this opportunity to work alongside Daddy Yankee to continue building on his remarkable legacy and significance. His real and lasting cultural impact is clear, and Concord is thrilled to be a part of his story.”
Concord also owns the historic Latin label Fania Records, as well as classic Mexican label Musart Records.
Concord plans to continue to sign and work with artists and songwriters out of its Miami office. It will also continue to acquire content in the Latin music space.
PHOTO: Isaac Reyes
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