Justin Bieber has let go of his publishing and recorded music rights — for a very hefty sum.
The 28-year-old singer sold his song catalog to Hipgnosis Songs Capital, who now has ownership to 290 Justin Bieber titles released before December 31, 2021. Justin made the sale to the amount of $200 million.
Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, said in a statement:
“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable.
This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone. Scooter Braun has helped him build a magnificent catalog, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”
Scooter Braun, Justin’s manager, said:
“I want to thank Merck and his entire Hipgnosis team and all of our partners involved for working so hard to make this historic deal happen.
When Justin made the decision to make a catalog deal, we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis. For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”
