Latin superstar Enrique Iglesias is the latest musician to make a deal for his music catalog. As reported by Bloomberg, the "Hero" singer and music investment firm Influence Media Partners closed the deal with an undisclosed amount in the nine-figure range.
The agreement includes Iglesias' entire catalog to date, including his masters released by Universal and independents, but not his 2021 Sony album or future releases. As part of the deal, his NIL — name, image and likeness — will also be managed by Influence Media, a first for the company.
"My songs hold immense significance for both my fans and me. I'm excited to be working with the Influence Media team. I feel confident we will build an enduring partnership for my music and future projects," said Iglesias in a press statement.
Iglesias, 48, is on the precipice of a new chapter. The singer is gearing up to release a new album, set to be the last for Iglesias, with the project titled Final Vol. 2.
But unlike many artists who say they’ve retired, Iglesias could still release new songs and tour legacy albums. That could boost the value of Influence Media’s latest investment but doesn’t include the rights to the Latin star’s upcoming album. The sale could signal good news for similar deals in the music industry, where catalog prices have been under pressure recently, in part because rising interest rates have made transactions more costly to finance.
This announcement arrives during Iglesias' "Trilogy" North American tour with Pitbull and Ricky Martin, which will take him into March 2024. He recently scored a No. 1 single on Billboard’s Latin chart for his new song, "Así Es La Vida," the first single from his forthcoming album.
As the "Bailando" singer told the Today show in November: "It's finished. It's actually coming out in February,' he shared. "It's completely finished. What I want to do is shoot one or two videos right before the second leg on the tour and launch it.
"I've been working on this album for quite a bunch of years. And for me it was always like I said, my final album... this is it," he continued. "I don’t think — no, I know, I won’t be doing any more albums."
Whether this is an indication he intends to spend more time with his partner Anna Kournikova and their three children, Iglesias noted that it doesn't mean he's not going to continue making music. The "King of Latin Pop" will still release singles and work on music. "For me, in my life, I think this is that final one."
The son of Spanish superstar Julio, Iglesias was one of the most successful Latin crossover artists of the last quarter century, with three top 10 albums in the U.S. (the highest-charting being 2001's Escape, which reached No. 2) and four that reached No. 1 in his native Spain. He notched five top 10 singles in the U.S., with "Bailamos" and "Be With You" both reaching the top spot in 1999 and 2000, respectively.