Justin Bieber sold the rights to his songs for $200 million (Portal)
Canadian singer Justin Bieber has sold the rights to his music catalog to hypnosis Per 200 million dollarsand thus follows the path of artists such as Bob Dylan Y Bruce Springsteenas reported by the company and a source close to the case.
“Hipgnosis has acquired Justin Bieber’s entire interest in his publishing rights (including the author’s interest in the performance), master recordings and related rights to its entire catalog,” said Hipgnosis, the music rights management company that already owns Red Hot’s Chili Peppers.
The deal is the latest in a long line of purchases of publishing rights, or copyrights, for artist catalogs that have become valuable assets, particularly with the streaming revolution.
The purchase was part of Hipgnosis’ partnership with financial management firm Blackstone, which was announced in late 2021 Investment of 1,000 million dollars keep buying music.
at 28 years,Justin Bieber is one of the best-selling music artists of all time‘ Hypgnosis boasts.
It may interest you: Justin Bieber is about to sell the rights to his music for $200 million
Last year, Bieber canceled several concerts on his Justice World Tour due to his health problems Ramsay Hunt Syndromeparalyzing part of his face.
Bieber rose to fame at the age of 13 following the success of his song “Baby.” The pop star announced in June that he had been diagnosed with Ramsay Hunt Syndrome, which left half his face paralyzed and forced him to cancel performances.
He is also a singer Justin Timberlake sold the rights to his songs, including hits like “Cry Me A River” and “Rock Your Body,” to Hipgnosis Song Management in May.
Blackstone and Hipgnosis Song Management Ltd announced in October a partnership to invest approximately $1 billion in music rights acquisition and catalog management.
In December last year, Swedish clothing retailer H&M reported that it had the rights to sell Justin Bieber clothes with the lettering and image, which it pulled from stores after the pop star said he had not given his consent.
“Justin’s licensee has confirmed that H&M had the correct contracts and followed all appropriate approval processes for each design selected,” H&M wrote in a statement.
Bieber urged his 270 million Instagram followers not to buy the merchandise, calling it “junk” and saying it was for sale without his consent. The next day, H&M withdrew the items from the sale.
“Out of respect for Justin, we are removing the products from our website and stores and are working to find the best way to use them,” H&M said, adding that the company has been a Bieber merch partner since 2016.
H&M, the second largest fashion retailer in the world, offered for sale sweatshirts and T-shirts with photos of Bieber or quotes from his lyrics, such as “I miss you more than life” from the song “Ghost.”
(With information from AFP and EFE)
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