May 30, 2023


Complete Canadian News World

Justin Bieber is selling the rights to his music catalog for US$200 million

Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, following a long list of artists like Bob Dylan and Bruce Springsteen who have given away their talent, the management company has learned. matter.

“Hypgnosis has acquired 100% of Justin Bieber’s publishing rights (including an author’s performance share), master recordings and related rights to his entire catalog,” Hypgnosis announced. Hot chili peppers. Hipgnosis did not disclose the amount.

The Wall Street Journal quoted about $200 million in December, a source familiar with the matter confirmed to AFP on Tuesday.

The collection includes more than 290 tracks released before December 31, 2021, including his biggest hits “Baby”, “Sorry” and “Love You”.

The transaction is the latest episode in a series of long copyright buyouts or publishing catalogs of artists, dead or living, but considered timeless, that have become valuable assets, especially with the streaming revolution.

The purchase was made as part of Hipgnosis’ partnership with fund management firm Blackstone, which announced in late 2021 that Hipgnosis would provide $1 billion to continue its music acquisitions.

At 28, “Justin Bieber is one of the best-selling music artists of all time,” says Hypgnosis.

Justin Bieber is one of the youngest artists to lead such an operation. Some of the more significant deals in the past two years have included sales of catalogs by Bob Dylan or Bruce Springsteen, for which Sony would leave $550 million on the table.

Before them, people like Tina Turner, Neil Young or the Red Hot Chili Peppers have already taken such steps.

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