Enrique Iglesias signs publishing deal with Kobalt Music
Last month, the global superstar sued his previous label, UMG, accusing them of not paying only a "small fraction" of due royalties from streaming.
Grammy award winner, singer/songwriter and producer Enrique Iglesias has signed a publishing deal with Kobalt Music that includes his catalog as well as future works, reports Billboard.
The publishing deal encompasses massive global hits such as 'Bailando,' as well as hits from his early romantic ballad days on Spanish indie label Fonovisa. Iglesias has recorded 38 top 10 hits on Billboard’s Hot Latin Songs chart, a record surpassed only by Luis Miguel, who has 39. 18 of those went on to top the chart.
“Enrique is one of the biggest global artists ever, so it is an honor that he has chosen Kobalt to support him in both creative and global admin services,” said Kobalt Music founder & CEO Willard Ahdritz in a statement. “He is an amazing singer, songwriter and producer with an extraordinary capacity to write in Spanish and English. The potential for his new music is massive and we’re excited to support him.”
The global superstar was previously signed to Sony ATV, but his contract there expired over a year ago. By signing to Kobalt, he follows in the footsteps of another major Latin star, Carlos Vives, who signed to Kobalt through its Latin division in October of 2016.
“It is a privilege to work with Enrique, a great human being and extraordinary artist whom I admire,” said Kobalt president of Latin America, Nestor Casonu. “Since the start of his career, he has consistently topped charts all over the world due to his great capacity to work, engagement with his fans, as well as the respect and care he gives to the creative process of his songs.”
Since 2015, Iglesias had been signed as a recording artist to Sony Music Latin, before which he was with Universal Music Group (UMG). Last month, Iglesias accused UMG of "systematically underpaying" his streaming royalties in a lawsuit filed in a Miami federal court.
According to the lawsuit, Iglesias has sought to inspect Universal's bookkeeping after receiving only a "small fraction" of his 50 percent royalty rate for streaming. The artist and his legal team believe UMG's "improper accounting" has resulted in a shortfall of millions of dollars in revenue for Iglesias, and is demanding the court enforce the label to pay lost royalties.
Iglesias has passed over 10 billion views on YouTube/VEVO and 14 billion streams overall, according to a press release. His latest hit, “Subeme La Radio,” was his 29th number one single on Billboard’s Latin Airplay chart – securing the record for the most No. 1 songs on the 22-year-old list.
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