Call it ‘Despa-sale-o’ if you like (or, indeed, not). Luis Fonsi and Daddy Yankee had a globe-spanning hit with ‘Despacito’ in 2017, and now Fonsi is the latest musician to sell some of his rights.
His publishing rights in this case: he has sold his catalogue to HarbourView Equity Partners. Variety reported that Sony Music Publishing will continue to administer the catalogue.
It’s the biggest deal so far for HarbourView, which announced itself last October with CEO Sherrese Clarke Soares (pictured) saying it had $1bn to spend on entertainment rights courtesy of financial backing from investment giant Apollo Global Management.
“We want to invest differently, not coloured by preconceived notions. Just because something is in the R&B sector, or in the Latin sector, we don’t believe that it should have a discount,” she said at the time.
The price paid for the Fonsi catalogue has not been announced.