Justin Bieber officially sells his music catalog.
It was recently reported that Justin Bieber is looking to sell his music catalogue, and now the pop star officially completed a deal with Hipgnosis Songs Capital. The Canadian star has sold his music rights to the Blackstone-backed company for over $200 million.
The deal includes the singer’s publishing copyrights (including the writer’s share of performance), master recordings and neighbouring rights for his entire back catalogue, comprising over 290 titles released before December 31, 2021.
“I want to thank Merck and his entire Hipgnosis team and all of our partners involved for working so hard to make this historic deal happen,” says Scooter Braun, CEO of Hybe America and his manager of 15 years. “When Justin made the decision to make a catalog deal, we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis. For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”
“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” says Merck Mercuriadis, founder and CEO of Hipgnosis Song Management. “This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone. Scooter Braun has helped him build a magnificent catalog, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”
The multi-million dollar agreement comes after Bieber announced that he would be postponing the remaining dates of his Justice Tour to an unknown date in 2023. Recently, Bieber has also expressed his dissatisfaction with the clothing brand H&M, stating that they used his image on their clothing without his consent.
There are other companies in the market for catalog acquisitions such as Universal Music Publishing, who acquired the publishing rights to Bob Dylan’s entire catalog for a sum of over $300 million in 2020. After that deal, Dylan also sold the master rights of his recorded music catalog to Sony Music Entertainment for $200 million. Recently, in late 2021, Sony also acquired the masters and publishing catalog of Bruce Springsteen for a reported $550 million.
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