Justin Bieber Sells Rights To His Music For $200 Million
24 January 2023, 17:17
Justin Bieber has sold the rights to his back catalogue of music.
Justin Bieber has sold the rights to his music for over $200 million to Hipgnosis Songs.
The deal includes Bieber’s share of his publishing copyrights, writer’s performance share, recorded music catalogue and neighbouring rights, which is when music is played in broadcasts or in public places such as shops.
According to Variety, the pop icon’s songs, such as ‘Baby’, ‘Beauty And a Beat’ and ‘Love Me’ will continue to be administered by Universal Music.
The deal covers the 28-year-old’s entire back catalogue - 290 songs released before December 31st 2021.
Justin Bieber - Sorry (Live at Capital's Jingle Bell Ball 2021)
It also includes songs from his most recent album ‘Justice’.
The exact financial details of the sale have not been shared but The Wall Street Journal estimated the deal was valued around $200 million.
Why did Justin Bieber sell his music rights?
Selling your music rights is becoming more common among established long-term stars as their catalogues are seen as a safer bet with investors given that they’ve been successful for years and their music holds longevity.
In a statement, Bieber’s manager of over 15 years Scooter Braun said: “When Justin made the decision to make a catalogue deal we quickly found the best partner to preserve and grow this amazing legacy was Merck [Mercuriadis] and Hipgnosis. For over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world.
“I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal.”
The deal is one of the biggest ever made for an artist under the age of 70.
It comes after he cancelled his remaining tour dates in 2022 to focus on his health after suffering from Ramsay-Hunt Syndrome in the summer.
He’s assured fans the dates will be postponed to later in 2023.