Justin Bieber’s song rights sold for $200 million

Justin Bieber's song rights sold for $200 million

New York, January 25.
Bieber, one of the best-selling artists of the 21st century, joins a growing group of artists who have cashed in on their catalogs. Justin Bieber has sold his share of the rights to his music to Hipgnosis Songs Capital. The deal is reportedly settled at $200 million. The company now owns the pop star’s share of some of the biggest hits of the coming years. These movies include “Baby” and “Sorry”. The move meant that Hipgnosis would receive a per-song payment every time a part of the song was played in public.
Hipgnosis did not disclose the terms of the deal, but a source told AFP news agency it was worth around $200 million.
A $1 billion settlement has been reached between financial giant Blackstone and British company Hipgnosis Song Management. They acquired the publishing rights to Bieber’s back catalog of 290 issues. It contains all of his music and his author’s role released before December 31, 2021.
Artists are increasingly selling their work to music funds, including Justin Timberlake and Shakira, who have also made deals with Hipgnosis. But this trend is more common among older artists. Over the past two years, music legends Bob Dylan and Bruce Springsteen have both sold catalog rights back to Sony.

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