Hipgnosis Songs Capital has acquired the rights to the catalog of almost 300 songs by Justin Bieber for the highest amount not only in the history of the company. No contemporary artist has received so much money for copyrights. The company believes that the investment is profitable because the audience of the singer is still relatively young, so the demand for his compositions in the public space will continue to exist for the next few decades.
How many people listen to Bieber’s music today?
Justin Bieber quickly became one of the most popular stars today. The 28-year-old singer started as a street musician and, discovered by investor Scooter Braun, signed a contract with RBMG Records in 2008, which released his debut album, My World, in 2009. The Canadian became the youngest artist whose song made it to the prestigious Billboard 200 list in the last 47 years and the first in the US whose songs gained the status of number one five times. Although several years have passed since then, Bieber’s fame does not disappear. In early 2022, it broke Spotify’s record, reaching almost 100 million monthly listeners on the platform. It was surpassed only by The Weeknd in January 2023. 94.68 actively listening fans is still an impressive result. 13 tracks, in turn, exceeded one billion plays. Hipgnosis Songs Capital, which acquired the singer’s catalog of songs, believes that royalties will continue to flow into them “for 60-70 years.”
The amount for which the catalog was purchased is equal to the market value of the musician
Bieber’s market value is estimated at almost $300 million, so it should come as no surprise that the amount for which he sold the rights to his songs is equally shocking. Acquiring the catalog of songs and copyrights, Hipgnosis had to take into account the expenditure of USD 200 million, i.e. almost PLN 870 million. With this financial outlay, the company took over 290 compositions recorded in 2009-2021 (until December 31, 2021). He believes that the investment will pay off, because from now on it will earn money on each public performance or sale of reissues of purchased releases.
The head of Merck Mercuriadis hailed the hits as “more valuable than gold or oil” and Bieber’s music “probably the final soundtrack of the streaming revolution”. Enthusiasm is also shared by Bieber’s longtime manager, to whom the singer owes his introduction to the music industry.
Justin is a once in a generation artist that reflects and validates the greatness of this deal. His greatness is just beginning.
Scooter Braun said.
Hipgnosis did not disclose the terms of the deal. Catalog sales, however, are not new to the industry. Copyrights were also entrusted to the company by Shakira and Justin Timberlake.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
