Thursday, July 3, 2008

Shakira signing with Live Nation for $70 million...Amazing

Latina bombshell Shakira is signing with Live Nation for $70 million. The deal includes 4 cd's, concert tour, and merchandising of the pop star. This is a new way of doing business in the music industry. Madonna and Jay Z signed similar deals where basically the artist make money upfront. Eventhough Shakira is not a big draw in the United States, she does phenominal in Latin America and Europe. Live Nation is banking on that, as well as having Shakira the token Latina for the company. Shakira still has one more album with Sony before her deal with Live Nation kicks in. Live Nation says the investment with Shakira should begin in late 2009.