Hipgnosis Songs Capital has verified that Justin Bieber paid more than $200 million for the rights to his songs.
According to Variety, Justin Bieber’s manager Scooter Braun stated that the scale of the agreement “reflects and acknowledges Justin as a once-in-a-generation performer.” “I have been fortunate to follow this adventure for the last 15 years, and now I am pleased for everyone involved. Justin’s talent is barely getting started.”
The agreement covers all of Bieber’s 291 songs up to his most recent album, “Justice,” published by the end of 2021.
On Instagram, Hipgnosis announced the purchase with the message, “Welcome to the Hipgnosis family @justinbieber.”
Universal Music will continue to manage Bieber’s master recordings after the transaction and will own perpetual ownership of them.
According to reports, one of the greatest acquisitions for a performer his age and the largest for the music rights organization is Justin Bieber’s portfolio.
Hipgnosis Song Management’s founder, Merck Mercuriadis, told Variety that this purchase is among the largest ever made for an artist under 70. He is one of a select group of defining musicians of the streaming era who, at only 28 years old, have revived the whole music business.
According to the publication, the “Never Say Never” singer is an exception to the rule that younger artists are more of a risk in a catalog sale since their songs haven’t yet proven to be timeless.
Similar agreements with Hipgnosis have previously been signed by Justin Timberlake, Neil Young, Kenny Chesney, Leonard Cohen, Nile Rodgers, and Nelly Furtado.
Young sold 50% of his repertoire for roughly $150 million, while Timberlake received a little over $100 million for his.
According to Variety, Bob Dylan sold his song collection to Universal Music Publishing in 2020 for $400 million.
Publishing rights are often not worth as much as the original songs and albums produced; nevertheless, money from licensing deals for movies and advertisements may generate substantial profits over time, particularly for well-known musicians like Justin Bieber.
