Justin Bieber Makes 200-Million-Dollar Deal
Iconic pop singer Justin Bieber has sold the music publishing and recording catalogue shares of 291 songs in a whopping 200-million-dollar deal.
Hipgnosis Songs Capital, the company behind the deal, revealed the news to an international publication on Tuesday, 24 January. The company now owns the rights to all of the songs Bieber released before 31 December 2021 – including his international mega-hits, “Baby” and “Sorry”.
Merck Mercuriadis, founder and CEO of the Hipgnosis conglomeration, has previously been quoted as saying that hit songs can be “more valuable than gold or oil”.
“This acquisition ranks among the biggest deals ever made for an artist under the age of 70,” Mercuriadis said as the deal was announced. “At only 28 years of age, [Bieber] is one of a handful of defining artists of the streaming era that has revitalised the entire music industry.”
While most of the terms of the deal remain undisclosed, it has been revealed that the company will be paid “anytime one of the songs is played in public.”
Bieber is not the first well-known artist to make this deal: stars like Justin Timberlake (who sold his catalogue for $100 million), Bruce Springsteen (who sold his life’s work for $500m), and others have also entered into similar agreements.
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