Hipgnosis Songs Capital stated Tuesday that Justin Bieber sold his entire back catalogue of over 290 songs to them. Billboard reports a $200 million agreement.
The company claimed it will buy Bieber’s full back catalogue through Dec. 31, 2021, including publishing copyrights, master recordings, adjacent rights, and artist allegiance.
“This acquisition ranks among the greatest transactions ever made for an artist under 70,” Hipgnosis Song Management CEO Merck Mercuriadis remarked. “This tremendous catalogue has approximately 82 million monthly listeners and over 30 billion Spotify streams.”
Justin Bieber sells music rights for $200 million
All six of Bieber’s albums have been certified platinum or multi-platinum, and Hipgnosis claims he has sold over $200 million records worldwide. Scooter Braun, who has managed Bieber for the past 15 years, said the contract is “historic.”
The best partner to maintain and grow this incredible history was Merck and Hipgnosis, said Braun in the press announcement, after Justin decided to make a catalogue deal. The scale of this arrangement reflects and acknowledges the fact that “Justin is genuinely a once in a generation artist.”
Justin Bieber sells a share of his music rights for $200 MILLION 😳‼️ pic.twitter.com/r5NarxdAXy
— RapTV (@Rap) January 24, 2023
Earlier this month, Shakira made a similar deal with Hipgnosis, surrendering her entire catalogue of 145 songs and all of the publication rights to those songs. Even among newer musical artists like Justin Timberlake and Imagine Dragons, the idea of selling catalogues has been increasingly popular in recent years.
Many factors motivate artists to sell their works after years of labour. Some people are trying to unload their stockpiles before President Biden‘s suggested plan to raise taxes on capital gains is implemented. Artists would have to pay a greater tax on the proceeds from the sale of their back catalogue if they waited until after the tax plan went into effect. However, some creatives would rather have a one-time payment than periodic royalties.
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Justin Bieber Wears Night Out Outfit To Studio With Hailey Bieber
Justin Bieber wore the same clothing to the studio and out. The 28-year-old Justice actor and wife Hailey Bieber celebrated a friend’s birthday at Giorgio Baldi in Santa Monica on Wednesday (January 4). Justin dressed casually while his wife wore a revealing black mini-dress and trench.
He wore a Balenciaga hoodie, grey beanie, and blue sports shorts. A favourite look. He also wore it to the studio earlier that day. After celebrating 2023 in Aspen with the Jenner sisters, the couple returned to California. Justin snowboarded.The musician’s studio project is unknown. He is allegedly close to signing an intriguing music deal.
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