Justin Bieber has reportedly sold his 15-year music catalog for $200 million.
The 28-year-old “Baby” singer has followed in the footsteps of artists including Bob Dylan, Mick Fleetwood, Neil Young, Sting and blonde singer Debbie Haley, who have played in the past three years. In the middle of the year, he sold his music interests in exchange for wealth.
Announced on Tuesday (January 24, 2023) that Justin has sold the rights to his recording career to London-listed Hipgnosis Songs Capital, sources told Variety that the singer’s tunes will continue to be managed by Universal Music, which he has held throughout. Universal Music throughout his career.
Merck Mercuriadis, 59, founder of Hipgnosis Song Management, said in a statement regarding the acquisition of Justin’s entire asset portfolio, including 290 tracks, by 2022: “Justin Bieber’s impact on global culture over the past 14 years has indeed been enormous. significantly.
“This acquisition is one of the largest ever for an artist under the age of 70, such is the power of this incredible catalog with nearly 82 million monthly listeners and over 30 billion streams on Spotify alone.
“Scooter Braun (Justin’s manager) has helped him build a magnificent catalog and it is a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”
Justin, who is married to 26-year-old model Hailey Bieber, is worth an estimated $300 million and is one of the world’s best-selling artists, with 150 million records sold worldwide. Justin has released six studio albums, as well as 72 singles, and has collaborated with artists such as Ludacris and Nicki Minaj.
All of Justin’s studio albums have been certified platinum or multi-platinum, while his singles “Baby”, “Sorry” and “Despacito” achieved diamond status in the US, each selling over 10 million copies.
Merck added that Justin’s sale meant he was “de-risking his future” and giving himself “independence” that would be the envy of “most people” in the world.
Sir Elton John and the former manager of the Pet Shop Boys added that he could not discuss the price Hipgnosis paid for the rights due to non-disclosure agreements, but the widely reported figure was around $200 million.
“(Justin) is paying a sum upfront rather than collecting it for the next 12 or 13 years,” he said.
“It will give him a chance to make his money work for him.
“He’s de-risking his future and giving himself the independence and cushion that most of the world would envy.”
