Colombian singing sensation Shakira has reportedly signed a long-term ten year deal with Live Nation.Her deal is estimated to be worth between 70-100 million dollars. $70M for ten years? That comes out to roughly $7M per year before taxes, agent fees, publicists, etc. I thought international pop stars made crazy money. Considering the state of our dollar, if she's smart she'd pull a Gisele Bündchen and re-negotiate it in Euros.
She follows in the footsteps of Madonna, Jay-Z, and U2 by aligning herself with the concert powerhouse. They will be responsible for recordings, concerts, merchandising, and other aspects of her career.
She is still obligated to deliver three more records to her current label, Epic Records. Will she still be worth anything in four records time from now? Pop careers are as fleeting as fashion trends. Your memory will probably be fuzzy, but remember when Mya, Lauryn Hill and Toni Braxton were hot commodities in the music industry?
Now that Madonna is no longer contractually obligated to Warner Music Group, it will be interesting to see if her first foray with Live Nation will bring back a return on their huge investment.
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