Popstar sells all his music rights
Justin Bieber has also sold his entire music catalogue. The deal for almost 300 songs is said to have cost $200 million.
Justin Bieber (28) has sold his song rights to the music investment fund Hipgnosis Songs Capital. The deal for 290 songs by the Canadian singer is said to have been decided for 200 million dollars (almost 184 million euros), according to American media reports.
Hipgnosis confirmed the purchase with multiple tweets on twitter. According to “Billboard” The sale is said to be the investment and song management company’s largest deal to date. Songs sold include all of the singer’s songs through 2021, including his latest album ‘Justice’.
Bieber’s manager Scooter Braun (41) thanked Hipgnosis founder Merck Mercuriadis (59) in a statement: “I would like to thank Merck and its entire Hipgnosis team and all our partners involved for working so hard on it to make this historic deal a reality.”
It continues: “For over a decade Justin Bieber has entertained and moved us with some of the greatest songs on earth.” Bieber’s awesomeness was just beginning, the statement concludes. According to Billboard information, copyright remains with Universal Music.
Selling song rights as a trend in the industry
The sale had been speculated for weeks. For musicians, the deals on their song rights are a new and popular source of income in times of streaming platforms like Spotify and after the loss-making Corona times.
With the sale, Bieber joins an illustrious line-up of well-known musicians who own the rights to their music have given up, including names such as Bruce Springsteen (73), Shakira (45), Justin Timberlake (41), Leonard Cohen (82), Red Hot Chili Peppers and Nelly Furtado (44).