Entertainment

Justin Bieber sells music rights for $200 million

Justin Bieber sold his music rights for more than $200 million to Hipgnosis Songs Capital, the company confirmed Tuesday.

“Justin is truly a once-in-a-generation artist, and that is reflected and recognized by the magnitude of this deal,” Bieber’s manager Scooter Braun said in a statement, according to Variety. “For 15 years I have been grateful to witness this journey and today I am happy for everyone involved. Justin’s greatness is just beginning.”

The deal includes all of Bieber’s 291 songs released by the end of 2021 up to his latest album “Justice.”

Hipgnosis celebrated the sale on Instagram, writing: “Welcome to the Hipgnosis family @justinbieber.”

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After the sale, Bieber’s master recordings will reportedly still be managed by Universal Music, and the company will still own the master recordings in perpetuity.

Justin Bieber sold his music catalog for $200 million. (Dimitrios Kambouris/Getty Images for The Met Museum/Vogue/Getty Images)

Bieber’s catalog is reportedly the biggest acquisition for the music rights group and reportedly one of the biggest for a musician his age.

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“This acquisition is among the largest deals ever made for an artist under the age of 70,” said Merck Mercuriadis, the founder of Hipgnosis Song Management, according to Variety. “At the age of just 28, he is one of a handful of defining artists of the streaming era who have revitalized the entire music industry.”

Younger artists are often considered a bigger risk in a catalog sale because their songs haven’t yet stood the test of time, but the “Never Say Never” singer’s continued success makes him an exception, according to the outlet.

Justin Bieber tours

The deal includes all of Bieber’s 291 songs released by the end of 2021 up to his latest album “Justice.” (Jason Merritt/Getty Images)

Justin Timberlake, Neil Young, Kenny Chesney, Leonard Cohen, Nile Rodgers and Nelly Furtado have previously signed similar deals with Hipgnosis.

Timberlake sold his catalog for a little more than $100 million, and Young 50% of his for about $150 million.

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Justin Bieber performs

The deal with the ‘Never Say Never’ singer was one of the ‘biggest’ for an artist under 70, Hipgnosis said. (Cliff Lipson/CBS via Getty Images/Getty Images)

In 2020, Bob Dylan sold his song catalog to Universal Music Publishing for $400 million, Variety reported.

Generally, publishing rights are not as valuable as the actual recorded songs and albums; however, revenue from advertising and film licensing can provide significant profits over a period of time, especially for popular artists such as Bieber.

A representative for Bieber did not immediately respond to FOX Business’ request for comment.

FOX Business’ Phillip Nieto contributed to this report.

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