Music pop icon Justin Bieber just sold his 291-Song Catalog to Hipgnosis Songs Capital for a Reported $200 Million dollar price tag.
On Tuesday of this week, the 28-year-old Grammy-winning musician sold the rights to every song he’s released, or had interest in, through to the end of 2021 to Hipgnosis Songs Capita. This company has also seen artists such as Kenny Chesney and Justin Timberlake who have recently sold their catalogs as well.
According to People,
The sale includes Bieber’s six studio albums — My World 2.0, Under the Mistletoe, Believe, Purpose, Changes and Justice — and other projects including My World and Journals, as well as the hit singles “Baby,” “Boyfriend,” “What Do You Mean?” “Sorry,” “Love Yourself,” “Yummy,” “Holy” and “Peaches,” among others.
Founder of Hipgnosis Song Management, Merck Mercuriadis said, “This acquisition ranks among the biggest deals ever made for an artist under the age of 70. At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry.”
Hipgnosis now owns a 100% interest in profits made from Bieber’s writing and recording credits as well as “neighboring rights.” This means that the money made from any public playing of his songs in stores, restaurants, and other places will belong to Hipgnosis. However, Bieber’s recorded masters will continue to be owned by Universal Music Group in perpetuity.
Bieber’s longtime manager, Scooter Braun said, “Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal.”
“For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning,” said Braun, 41.
Justin Bieber has now joined other artists who’ve recently sold their music catalogs including Bob Dylan, Sting, Stevie Nicks, Bruce Springsteen, and Neil Young.