On October 18, Concord announced the acquisition of a significant portion of Daddy Yankee's music catalog, including global hits like 'Gasolina' and 'Con calma'. This deal also encompasses rights to his guest appearance in 'Despacito', which holds the Guinness World Record for the most streamed song worldwide.
While Daddy Yankee did not directly sell his catalog, he had previously sold it to an unnamed fund, which then transferred the rights to Concord. Although the exact purchase price has not been disclosed, estimates suggest it exceeds $217 million.
The agreement grants Concord certain rights related to Daddy Yankee's name, image, and likeness, ensuring his music continues to generate revenue through film, advertising, and television. Bob Valentine, CEO of Concord, expressed excitement about the opportunity to collaborate with Daddy Yankee to further build on his remarkable legacy.
In December of last year, the artist known for 'Si supieras' transitioned to Christianity and announced during his final concert in Puerto Rico that he would focus on evangelism.