Justin Bieber has sold his music catalog to the company Hipgnosis Songs Captial for over $200 million.
The deal includes Bieber’s shares of his publishing and recorded-music catalog which include writer’s share of performance.
Hipgnosis Songs Capital has officially announced the acquisition of Justin Bieber’s music rights, with reports of the transaction totaling to over $200 million. This includes Bieber’s ownership of publishing and recording catalogs, as well as the writer’s share of performance, master recordings and neighboring rights up until December 31, 2021. Variety has reported that Universal Music will continue to manage Bieber’s songs, and will retain ownership of his master recordings in perpetuity. This purchase was completed by Hipgnosis on behalf of its investors.
With capital gains taxes and interest rates having gone up, and prices having surged, the previously heated catalog market has lost much of its charm. Compared to established collections such as Genesis and Phil Collins, the latter of which were sold for $300 million this year, Justin Bieber’s 15-year repertoire may not be as lucrative, despite its inclusion of multiple hit singles.
Braun, CEO of Hybe America and Bieber’s manager of 15 years, 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.”
Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, said: “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.”
