With an illustrious career that was catapulted to stardom many years ago with the smash hit ‘Baby’ which released in 2010, Justin Beiber has come a long way.
The 28-year old has now sold his 290 – song catalog in a massive $200 Million deal.
Earlier this week, the Grammy-winning musician sold the rights to his entire publishing catalog up until the end of 2021, to Hipgnosis Songs Capital to whom the likes of Justin TImberlake as well Nelly Furtado and many more have recently also sold their catalogs to.
In a slew of artist estate acquisitions through 2022 Bruce Springstein, Neil Young, Phil Collins and many many more have sold their assets to Investors.
While typically ‘younger’ catalogs such as Beibers are considered riskier investments, his undeniable success helped him clain the hefty price tag.
Though Bieber’s share of artist royalties for his masters will now be routed to Hipgnosis, UMG will continue to own the recorded music copyrights to his works in perpetuity as reported by Billboard.
Founder/chief executive Merck Mercuriadis shared his excitement about the deal in a statement saying, “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable. At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist. 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 catalogue, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”
Echoing the excitement and how they narrowed down on Hipgnosis as the right fit, Scooter Braun, Beiber’s manager for 15 years as well as founder of SB Projects and CEO of HYBE America 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 over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world. I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal. 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.”
H/T – Billboard
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