Justin Bieber has sold his share of the rights to his music to Hipgnosis Songs Capital for a reported $200m.
By selling the rights to his publishing and artist revenues from his music collection, Justin Bieber has joined the ranks of pop performers who have signed rights agreements.
The Bieber portfolio was purchased by Hipgnosis, the music rights investment company announced on Tuesday. The contract is worth, according to Billboard, $200 million. Justin Bieber’s sales surpassed those of all other artists in his generation, according to Rolling Stone.
The scale of this agreement, according to Justin Bieber’s manager Scooter Braun, “reflects and is acknowledged by the fact that Justin is actually a star performer.” ” I have had the great privilege to follow this trip for the past 15 years, and today I am happy for everyone involved. Justin’s brilliance is just getting started.
Numerous musicians, including Neil Young, Bruce Springsteen, Justin Timberlake, Sting, Stevie Nicks, and Stevie Wonder, recently sold the rights to their royalties.
Warner Music Group also bought David Bowie’s entire discography, which spans six decades and includes all of his music. Springsteen’s deal was worth approximately $550 million. According to reports, the rates other artists’ records fetched were more in line with Bieber’s revenues.
At the end of 2021, numerous musicians reportedly hurried to sell their rights before the Biden Administration increased capital gains taxes, according to Hannah Karp, editorial director at Billboard. Others, especially those who were nearing the conclusion of their artistic careers, made the decision to sell their estate management rights, according to Karp.
But other more recent artists, like Justin Bieber, have also begun to sell. Imagine Dragons sold their portfolio to Concord Music Publishing in August. The lifetime rights to Shakira’s entire repertoire, which includes timeless songs like “Hips Don’t Lie,” “Whenever, Wherever,” and “She Wolf,” are covered by an agreement between Hipgnosis Songs Fund and the singer.
Taylor Swift, on the other hand, is employing the opposite technique, continually fighting to maintain creative control and re-recording some of her songs to secure publishing rights.
