Add Justin Bieber to the growing list of pop stars who have signed rights agreements by selling the rights to his song catalog’s publishing and artist royalties.
Hipgnosis, a music rights investment firm, announced on Tuesday that Bieber had sold his catalog to them.
Scooter Braun, Justin Bieber’s longtime manager, stated in a statement, “Justin is truly a once in a generation artist, and that is reflected and acknowledged by the magnitude of this deal.” I have been grateful for 15 years to have been a part of this journey, and today I am happy for everyone involved. Justin’s greatness only gets better.
Billboard reports that the deal is worth $200 million. The sale, according to Rolling Stone, was the most of any artist of Bieber’s generation.
The rights to their royalties have recently been sold by Stevie Nicks, Justin Timberlake, Sting, Neil Young, Bob Dylan, and others. Additionally, Warner Music Group acquired the entire six-decade catalog of the late British rock star David Bowie.
The contract with Springsteen was worth about $550 million. According to reports, the catalogs of other artists have sold for more than Bieber’s haul.
Bieber released six studio albums between 2010 and 2021, as well as a number of remix and compilation albums.
He has also released dozens of singles and is a prolific collaborator on songs, including Luis Fonsi and Daddy Yankee’s Despacito.
Hannah Karp, editorial director at Billboard, told CNN last year that many artists had rushed to sell their rights before the Biden Administration allowed capital gains taxes to rise. According to Karp, some people, particularly artists who were nearing the end of their careers, decided to sell their rights as part of estate planning.
However, younger artists like Bieber have also begun to sell their music. Concord Music Publishing purchased Imagine Dragons’ catalog in August. Shakira signed a deal with Hipgnosis Songs Fund for her entire catalog, which includes songs like “Hips Don’t Lie,” “Whenever, Wherever,” and “She Wolf.” The deal was announced earlier this month.
However, Taylor Swift is employing the opposite strategy, rerecording some of her songs in order to acquire publishing rights to her music and battling for creative control.
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