Justin Bieber sells rights to his entire music catalog for $200 million
Justin Bieber became the youngest artist to sell his entire music catalog. According to information from The Guardian newspaper, the Canadian singer has sold the rights to his performances to Hipgnosis Songs Capital (HSC) in a deal valued at $200 million.
According to the medium, the company bought the rights to 291 songs that Bieber published until the end of 2021. From 2010 until almost two years ago, the interpreter of ‘Baby’ had released six studio albums.
He also reported that the music rights company has been backed with $1 billion from private equity giant Blackstone.
London-listed company Hipgnosis is estimated to have spent $2 billion on music deals since 2018. This acquisition is among the largest deals ever for an artist under the age of 70.
Merck Mercuriadis, founder and CEO of Hipgnosis, assures that “at only 28 years old, Justin Bieber is one of the most successful artists of the streaming era that has revitalized the entire music industry.”
Blackstone-funded HSC has already spent some $600 million in deals since it was formed in 2021. In that short span of time, the company has purchased the rights to all or part of the libraries owned by Leonard Cohen, Nelly Furtado, and Justin Timberlake.
Other stars who have sold catalogs include Bob Dylan, Neil Young and Tina Turner.