The Canadian musician Justin Bieber sold the rights to his musical catalog to Hipgnosis, for 200 million dollars (about 184 million euros), following the example of artists like Bob Dylan or Bruce Springsteen.
Hipgnosis, a British company specializing in music fund management, has thus added the 28-year-old music star to an already ‘filled’ list of artists such as Leonard Cohen, Shakira and the Red Hot Chili Peppers.
The agreement includes more than 290 songs published until the end of 2021 by the Canadian artist, such as the hits “Baby”, “Sorry” and “Love Yourself”, the British company revealed in a statement.
Although the company has not revealed the amounts involved in the business, various media such as Billboard, Rolling Stone or The Wall Street Journal have reported that it amounts to approximately 200 million dollars.
A source close to the process confirmed this figure to Agence France-Presse (AFP).
Bieber has released six studio albums to date, as well as several compilation albums, but also dozens of singles and collaborations with other artists.
“Justin Bieber’s impact on global culture over the past 14 years has been exceptional,” said Hipgnosis founder and CEO Merck Mercuriadis, a former manager of Elton John.
Justin Bieber has over 30 billion ‘streams’ on the Spotify platform.
This agreement comes after a difficult 2022 for Bieber, affected by health problems that led the Canadian to cancel part of his tour, including a trip to Portugal.
In June, in a video message to his 260 million followers, the artist had already revealed that he would postpone some concerts on the tour due to facial paralysis, caused by Ramsay-Hunt syndrome.
The multi-million dollar deal from the sale of his catalog is quite unusual for a 28-year-old artist, since most of these large deals were made by musicians in the final stages of their careers and with established musical legacy.
Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars who in recent years have sold the rights to their songs for large amounts to different companies.
Source: TSF
