Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, the company and a source close to the case said. The musician follows the path of artists such as Bob Dylan and Bruce Springsteen.
The Wall Street Journal reported in December that the artist was offering his rights for about $200 million, a figure confirmed to AFP this Tuesday (24) by a source close to the case.
“Hipgnosis has acquired Justin Bieber’s 100% ownership of his publishing rights [inclusive a participação do autor nas apresentações]Master recordings and related rights to their entire back catalog,” said Hipgnosis, the management company that already owns the music rights to the Red Hot Chili Peppers.
Hipgnosis has not disclosed the value.
The repertoire includes more than 290 songs released before December 31, 2021, including their biggest hits Baby, Sorry and Love Yourself.
This is the latest deal in a long line of purchases of copyrights, artist catalog publishing rights and royalties, which have become valuable assets, particularly with the streaming revolution.
The purchase was part of a collaboration between Hipgnosis and financial management firm Blackstone, which announced a $1 billion investment in late 2021 to continue buying music.
At 28, “Justin Bieber is one of the bestselling music artists of all time,” boasts Hipgnosis.
Pink beanie, baggy trousers and Crocs: Justin Bieber makes a statement for style without sacrificing comfort