In a recent business move, Canadian pop star Justin Bieber has sold the rights to his music catalog for $200 million to a private equity firm named Hipgnosis Songs Capital. This marks a significant milestone in the singer’s career and demonstrates the ongoing popularity and relevance of his music.
The sale includes the rights to Bieber’s first five studio albums, as well as various other releases and collaborations. The deal was structured as a purchase of Bieber’s publishing company, with the private equity firm acquiring the rights to his songs.
The move means Hipgnosis will receive a payment every time a song it owns is streamed or used on radio, TV, or film.
The company – a $1bn venture between financial giant Blackstone and the British Hipgnosis Song Management – acquired Bieber’s publishing copyrights to his 290-song back catalog.
It has also acquired his share in the original master recordings of his songs.
That includes all of his music released before 31 December 2021.
Hipgnosis has not disclosed the terms of the deal, but a source told the news agency AFP it was worth around $200m.
Bieber, who rose to fame in the early 2010s with hit singles such as “Baby” and “Sorry,” has continued to dominate the charts and maintain a strong following in the years since. His music has been streamed billions of times on platforms such as Spotify and YouTube, and he remains one of the best-selling music artists of all time.
The sale of Bieber’s music rights is part of a growing trend in the music industry, where artists are selling the rights to their music catalogs to private equity firms or other investors. This allows artists to secure a large payout for their work, while also giving them the freedom to focus on their creative careers without the pressure of managing their catalogs.
For Bieber, the sale of his music rights also represents a significant financial milestone, as it is one of the largest deals of its kind in the music industry. The $200 million payout will give Bieber more financial stability and the ability to pursue other opportunities, both in and outside of the music industry.
Overall, the sale of Justin Bieber’s music rights demonstrates the enduring popularity of his music and the ongoing relevance of his career. It also highlights the growing trend of artists selling the rights to their music, as they seek to secure a large payout for their work and pursue other opportunities.