Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, the company and a source close to the case said. The musician follows the path of artists like Bob Dylan and Bruce Springsteen.
The Wall Street Journal reported in December that the artist was offering his rights for about $200 million, a figure confirmed to AFP this Tuesday (24) by a source close to the case.
“Hipgnosis has acquired all of Justin Bieber’s shares in his release rights [inclusive a participação do autor nas apresentações]master recordings and related rights to their entire back catalog,” said Hipgnosis, the management company that already owns the music rights to the Red Hot Chili Peppers.
Hipgnosis did not disclose the value.
The repertoire includes more than 290 songs released before December 31, 2021, including their greatest hits Baby, sorry and love yourself.
This is the latest deal in a long line of purchases of copyright, artist catalog release rights and royalties, which have become valuable assets especially with the streaming revolution.
The purchase was part of an association between Hipgnosis and the financial management company Blackstone, which announced, at the end of 2021, an investment of US$ 1 billion to continue buying music.
At 28, “Justin Bieber is one of the best-selling music artists of all time,” boasts Hipgnosis.
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