Entertainment

Justin Bieber sells the rights to his songs for USD 200 million

Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, thus following the path of artists such as Bob Dylan and Bruce Springsteen, according to the company and a source close to the case.

The Wall Street Journal had reported in December that the artist was giving up his rights for some 200 million dollars, a figure confirmed to AFP on Tuesday by a source close to the case.

“Hipgnosis has acquired all of Justin Bieber’s interests in his publishing rights (including the author’s portion of the performance), master recordings and related rights to his entire catalogue,” said Hipgnosis, the music rights management company that already owns those of the Red Hot Chili Peppers.

Hipgnosis did not disclose the amount.

The repertoire includes more than 290 songs released before December 31, 2021, including his biggest hits “Baby”, “Sorry” and “Love Yourself”.

The deal is the latest in a long line of purchases of artist catalog publishing rights or copyrights, which have become valuable assets, especially with the streaming revolution.

The purchase was part of Hipgnosis’s association with the financial management firm Blackstone, which announced at the end of 2021 an investment of 1,000 million dollars to continue buying music.

At 28, “Justin Bieber is one of the best-selling music artists of all time,” boasts Hipgnosis.

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