Pop icon Justin Bieber sells music rights for to Hipgnosis Songs Capital, which is financed by Blackstone. Hipgnosis did not publicly disclose the deal’s details, but a source familiar with the situation told AFP that it was estimated to be worth $200 million.
According to the deal, Hipgnosis has acquired Bieber’s publishing copyrights to his 290-song back catalog all of his music released prior to December 31, 2021 including his writer’s share.
It also includes his artist rights to his lucrative master recordings as well as neighboring rights royalties a right that sees its owner receive a payment every time a song is played publicly.
“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” said Hipgnosis chief Merck Mercuriadis, a longtime music industry executive, in a statement. He added “At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist.”
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But while Hipgnosis will receive the revenues, Bieber’s longtime home Universal will continue to administer the catalog, Variety reported.
