Justin Bieber sells rights to his music catalog for $200 million

Canadian musician Justin Bieber sold the rights to his music catalog to Hipgnosis, for 200 million dollars (about 184 million euros), following the example of artists such as Bob Dylan or Bruce Springsteen.

Hipgnosis, a British company specializing in the management of musical funds, has thus added the 28-year-old musical star to a list already “stuffed” with artists such as Leonard Cohen, Shakira or the Red Hot Chili Peppers.

The agreement includes more than 290 songs published by the end of 2021 by the Canadian artist, such as the hits “Baby”, “Sorry” and “Love Yourself”, revealed the British company in a statement.

Although the company has not disclosed the amounts involved in the deal, various media outlets 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 the 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, Elton John’s former manager.

Justin Bieber has over 30 billion “streams” on the Spotify platform.

This deal 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 because of facial paralysis, caused by Ramsay-Hunt syndrome.

The multimillion-dollar deal for the sale of his catalog is quite unusual for a 28-year-old artist, as most of these large operations were carried out by musicians in the final stages of their careers and with a consolidated 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: Renascença – Noticias by rr.sapo.pt.

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