Justin Bieber sells his music catalog for $200 million

[ad_1]

Repertoire includes more than 290 songs released before December 31, 2021, including his greatest hits ‘Baby’, ‘Sorry’ and ‘Love Yourself’. Justin Bieber at the 2022 Grammys Angela Weiss/AFP Canadian singer Justin Bieber has sold the rights to his music catalog to Hipgnosis for $200 million, the investment firm said. The musician follows the path of artists like Bob Dylan and Bruce Springsteen. The newspaper “Wall Street Journal” reported, in December, that the artist was offering his rights for about US$ 200 million dollars, an amount confirmed to the France Presse news agency this Tuesday (24) by a source close to the case. . “Hipgnosis has acquired all of Justin Bieber’s shares in his release rights [inclusive a participação do autor nas apresentações]master recordings and rights related to its entire catalog”, said Hipgnosis, the management company that already owns the musical rights to the band Red Hot Chili Peppers. Hipgnosis did not disclose the value. The repertoire includes more than 290 songs released before Dec. 31, 2021, among them his greatest hits “Baby”, “Sorry” and “Love Yourself”. This is the latest deal in a long list of purchases of copyright, artist catalog release rights and rights copyrights, which have become valuable assets mainly with the streaming revolution. The purchase was part of an association between Hipgnosis and the financial management company Blackstone, which announced, at the end of 2021, an investment of US$ 1 billion to continue buying music At 28, “Justin Bieber is one of the best-selling music artists of all time,” boasts Hipgnosis.

[ad_2]

Source link