Independent music company Concord announced it has agreed to purchase a share of the music publishing and master recording catalog of Latin superstar Daddy Yankee.
The deal includes chart-topping hits such as “Gasolina,” “Con Calma,” and “Despacito” and other works from Daddy Yankee from 2002 through 2019, along with certain name, image, and likeness rights.
The catalog will be oversee out of Concord’s Miami office and bolsters the company’s existing catalog of more than 1.3 million songs.
A valuation for the deal was not disclosed, but Billboard reported that it was worth $217 million.
“Since he burst onto the scene, Daddy Yankee has been at the forefront of not only reggaeton, but pop music generally,” said Concord CEO Bob Valentine. Adding, “We were incredibly excited by this opportunity to work alongside Daddy Yankee to continue building on his remarkable legacy and significance. His real and lasting cultural impact is clear, and Concord is thrilled to be a part of his story.”
