Justin Bieber sell music rights to Hipgnosis Songs Capital for $200 M.
The 28-year-old singer joins a who’s who of artists who have recently made money off of their catalogues thanks to the sale, which has been rumoured for weeks.
Hipgnosis did not publicly disclose the deal’s details, but an insider told the AFP news agency that it was worth roughly $200 million.
Hipgnosis chief Merck Mercuriadis, a longtime music business executive, said in a statement on Tuesday,
“The impact of Justin Bieber on worldwide culture over the previous 14 years has certainly been astounding.”
At only 28 years old, he is one of a select group of defining musicians of the streaming era who have revitalised the whole music business by accompanying a devoted and global audience on his path from a teen phenomenon to a culturally significant artist.
A $1 billion partnership between financial behemoth Blackstone and the British Hipgnosis Song Management results in Hipgnosis Songs Capital.
According to Hipgnosis, they have bought Justin Bieber’s interest in his publishing copyrights for the entirety of his 290-song back catalogue that was issued before December 31, 2021.
According to a second person familiar with the negotiations, Bieber’s longtime label Universal will continue to manage its collection and retain ownership of the artist’s master recordings.
Hipgnosis has purchased the artist’s master rights as well as his adjacent rights, which are royalties that entitle their owner to compensation each time a song is heard in public.
Justin Timberlake and Shakira, two modern celebrities who have also signed deals with Hipgnosis, have sold significant portions of their creative properties.
While legacy musicians like Bob Dylan and Bruce Springsteen have been the main beneficiaries of this trend.
Best-Selling Artist
Younger catalogues are generally considered to be riskier, yet Bieber is one of the best-selling artists of all time, and Hipgnosis now has a part in some of the biggest successes of the twenty-first century, including Sorry and Baby.
Staggering sums—catalogue Springsteen’s reportedly sold to Sony for $500 billion—are seen as sure investments by investors who can bank on reliable returns from time-tested music and the sustainability of streaming as well as ageing artists who are getting their finances in order.
