Justin Bieber has sold his 15-year publishing and recording catalogue or music shares, to the Blackstone-backed Hipgnosis Songs Fund for $200 million, the company announced on Tuesday.
For weeks, there have been rumors of the sale. He has imitated musicians Bob Dylan, Mick Fleetwood, Neil Young, Sting, and Blondie vocalist Debbie Harry who, in the previous three years, sold shares in their music for fortunes.
With 150 million records sold worldwide, Justin Bieber, who is married to model Hailey Bieber, 26, has an estimated $300 million net worth.
He has released six studio albums, and 72 singles, and collaborated with musicians such as Ludacris and Nicki Minaj.
All of Justin’s studio albums have achieved platinum or multi-platinum certification, while his singles “Baby,” “Sorry,” and “Despacito” have each achieved diamond status in the United States after selling more than 10 million copies.
Hipgnosis Songs Capital is a $1 billion venture between financial giant Blackstone and the British Hipgnosis Song Management.
Hipgnosis said they acquired Bieber’s interest in his publishing copyrights to his 290-song back catalog — all of his music released prior to December 31, 2021.
Braun has been Bieber’s manager for 15 years and released a statement that read: “When Justin made the decision to make a catalogue deal we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis.
“Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal.”
Artists who have sold music rights
1. Justin Timberlake
Justin Timberlake sold Hipgnosis his entire discography in May of last year for more than $100 million.
Columbian singer Shakira sold her 145-song catalogue to Hipgnosis in January 2021 for an undisclosed fee
3. Bob Dylan
In a deal estimated to be valued up to $400 million in 2020, Bob Dylan sold Universal Music 100% of his publishing portfolio, which included more than 600 songs.
4. Neil Young
In January 2021, Hipgnosis purchased 50% of Neil Young’s catalog, comprising 1,180 tracks, in a deal reportedly for $150 million.
5. Imagine Dragons
The US pop rock band Imagine Dragons reportedly made a deal for more than $100 million to sell Concord Music Publishing their complete discography up to the year 2020.