Justin Bieber sold the rights to his entire music catalog to Hipgnosis Songs Capital for about 200 million dollarsadding to a growing list of stars who in recent years have sought to make cash in this way.
The agreement includes more than 290 themes published until the end of 2021 by the Canadian artist, as reported by Hipgnosis, a British firm backed by the investment fund Blackstone and which already owns the rights to catalogs of other pop figures.
Although the company has not disclosed the economic terms of the operation, various media such as Billboard, Rolling Stone or The Wall Street Journal point out that it amounts to about 200 million dollars.
Bieber has released six studio albums to date, as well as several remix and compilation albums, but also dozens of singles and collaborations with other artists which include famous titles such as “Despacito”, together with Luis Fonsi and Daddy Yankee.
The multi-million dollar agreement for the sale of its catalog It is very unusual for an artist of his age. (28 years old) since most of these large operations have been carried out by musicians in the final part of their careers and with a well-established musical legacy.
Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars that in recent years They have sold the rights to their songs. for large amounts to different companies.
Hipgnosis, for its part, has recently become one of the most active firms in this field, acquiring the catalogs of artists such as Shakira or Justin Timberlake, among many others.
Source: Lasexta
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