Superstar Justin Bieber sold his music rights Hipgnosis Songs Capital, the company announced Tuesday, in a deal reported to be worth over US$200 million, making him the latest musician to cash in on his catalogue.
Key Facts
Hipgnosis acquired 100% of the publishing rights, masters recordings and neighboring rights of Bieber’s back catalogue, 290 songs released before December 31, 2021.
His recorded music masters will continue to be owned by Universal Music Group.
This agreement is the largest music-rights acquisition for Hipgnosis, according to the Wall Street Journal, which acquired Justin Timberlake’s song-catalogue rights last year for a reported $100 million.
Bieber’s longtime manager, Scooter Braun, said “I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal.” Braun famously acquired Taylor Swift’s masters recordings and sold them to Shamrock Capital in 2020, deals Swift has claimed she was cut out of.
Key Background
Bieber was discovered by Braun on YouTube in 2007. In 2009, he released his first single, “One Time,” which catapulted him to instant stardom.
His first album, My World 2.0, was released in 2010. Since then he’s released six studio albums, including 2021’s Justice.
He’s been nominated for 23 Grammy Awards and won two. Last year, Bieber revealed he was struggling with Ramsay-Hunt Syndrome, a reaction to a virus which caused partial paralysis in his face.
In September, Bieber called off the remainder of his Justice World Tour, saying he needs “to make my health a priority right now.”
The deal with Hipgnosis was first reported in December.
Time to sell
Bieber is one of the many music stars who has sold the rights to their music in the last few years, and a handful of celebrities who have already done so this year.
Dr. Dre is reportedly in the process of selling some music income streams and assets in separate deals to Shamrock Holdings and Universal Music Group.
Primary Wave Music acquired rights from two members of The Doors. Warner Music Group acquired the recorded music rights and income streams from YES.
This story was first published on forbes.com