The Puerto Rican reggaeton artist Daddy Yankee, one of the most influential figures in the genre, has sold a significant portion of his musical catalog to the company Concord. Although the exact figure has not been disclosed, it is estimated that the transaction exceeded $217 million, highlighting the economic value of his work in the international music market. With this agreement, Daddy Yankee ensures that his music will continue to generate income through its use in film, advertising, and television, while capitalizing on his legacy in the industry.
The catalog sold includes some of the biggest hits of reggaeton, such as 'Gasolina,' 'Con Calma,' and 'Dura.' Concord becomes a key player by offering these catalogs for licensing in films, advertising campaigns, and other creative projects, ensuring the continued relevance of the music over time. This acquisition strengthens Concord's presence in the Latin music market, which has seen steady global growth.
In addition to the rights to Daddy Yankee's work, Concord owns legendary labels such as Fania Records and Musart Records, which host major names in Latin music. These songs not only marked the peak of reggaeton but also brought this genre to a global stage, making Daddy Yankee a reference point for it. It is worth mentioning that the artist had previously sold part of his catalog to an unidentified fund, although he still retains control over a portion of his publishing rights, managed by Sony Music Publishing and Spirit Music.
The sale of Daddy Yankee's catalog is yet another example of how musical catalogs have become valuable financial assets today. Concord, among other companies, has adopted a strategy of acquiring musical catalogs encompassing major artists from various genres and eras. From the rights of Creedence Clearwater Revival to the works of Genesis, Concord has assembled an impressive collection of over 1.3 million songs. Bob Valentine, CEO of Concord, has emphasized that owning iconic songs not only represents a financial investment but also a cultural one.