Is it a smart move for Justin Bieber?
Justin Bieber sold his music rights to Hipgnosis for $200 million. Hipgnosis is a music investment corporation based in the United Kingdom.
The deal means that all Bieber’s chart-topping hits—ranging from “Baby” to “Sorry”—are no longer his.
The Canadian-American pop star’s six albums, including his most recent album “Justice,” are part of the deal. Hipgnosis will now get paid every time a song it owns is streamed or played on radio, television, or film.
Hipgnosis now owns Bieber’s copyrights, songwriter ownership, and his entire catalog of recordings. That includes songs that Bieber has released since he was 13, like “Peaches” and “Beauty and the Beat.”
At 28, Bieber is the youngest superstar vocalist to do so. Top musicians like Bob Dylan and Shakira have sold catalog rights for large sums in recent years. In 2018, Hipgnosis bought Shakira’s repertoire.
The transaction’s financial terms have yet to be published. However, Billboard Magazine says it was for an estimated $200 million.
“Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal,” says Scooter Braun, Bieber’s longtime manager, about the deal.
The Recording Industry Association of America recognized all six of Bieber’s studio albums. He currently has 33 platinum or multiplatinum singles globally. A single or album that sells over a million copies is considered platinum, while works that sell over two million become multiplatinum.
The scope of Bieber’s deal with Hipgnosis is only up to his songs released in 2021. This means that Bieber will still own all his future releases.
Banner Image Dani Sison
