Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, following a long list of artists including Bob Dylan and Bruce Springsteen who have given up their repertoire, the company has learned from the hand from AFP. source familiar with the matter.
“Hipgnosis has acquired Justin Bieber’s 100% interest in his publishing rights (including the author’s share of the performance), master recordings and related rights to his entire catalogue,” announced Hipgnosis, the music rights management company. I already own the Red Hot Peppers.
Hipgnosis did not disclose the amount. The Wall Street Journal mentioned a sum of about 200 million dollars in December, a source familiar with the matter confirmed to AFP on Tuesday. The repertoire includes more than 290 titles released before December 31, 2021, including their greatest hits Baby, I’m sorry Y Love yourself.
common operations
This transaction is the latest episode in a long series of purchases of copyrights or the publication of catalogs of artists dead or alive, but considered timeless, which have become precious assets, particularly with the streaming revolution.
The purchase was made as part of Hipgnosis’ partnership with financial management firm Blackstone, which announced in late 2021 that it would provide $1 billion to help Hipgnosis continue its music purchases.
At 28, “Justin Bieber is one of the best-selling music artists of all time,” says Hipgnosis.
Justin Bieber is one of the youngest artists to lead such an operation. Among the most important transactions of the last two years are the sale of Bob Dylan or Bruce Springsteen catalogues, for which Sony would have put more than 550 million dollars on the table. Before them, Tina Turner, Neil Young or the Red Hot Chili Peppers, among others, had already carried out this type of operation.
Source: BFM TV
