canadian singer Justin Bieber has sold the rights to its music catalog to Hipgnosis for 200 million dollars, thus following the path of artists such as Bob Dylan and Bruce Springsteen, as reported by the company and a source close to the case.
The Wall Street Journal had reported in December that the artist ceded his rights for about 200 million dollars, figure confirmed on Tuesday to AFP by a source close to the case.
“Hipgnosis has acquired all of Justin Bieber’s interests in his publishing rights (including the author’s portion of the performance), master recordings and related rights to his entire catalogue,” said Hipgnosis, the music rights management company that already owns those of the Red Hot Chili Peppers.
Hipgnosis did not disclose the amount.
At 28, “Justin Bieber is one of the best-selling music artists of all time,” boasts Hipgnosis.
The repertoire includes more than 290 songs published before December 31, 2021, including his biggest hits “Baby”, “Sorry” and “Love Yourself”.
Hipgnosis Song Management offers investors the opportunity to earn royalties from the work of a wide range of artists including Barry Manilow and Beyonce.
The reported deal with Bieber would be the largest the company has ever negotiated. The star is worth an estimated $300 million and has sold 150 million records worldwide, making him one of the most successful recording artists in history.
The deal is the latest in a long line of purchases of artist catalog publishing rights or copyrights, which have become valuable assets, especially with the streaming revolution.
with other artists
In May, Justin Timberlake sold his entire song catalog in a deal worth $100 million.
The purchase was part of Hipgnosis’s association with the financial management firm Blackstone, which announced at the end of 2021 an investment of 1,000 million dollars to continue buying music.
The agreement between the former NSYNC star and the management company gives them 100 percent control and ownership over his interest in more than 200 songs in which he has been involved in lyrics.
Hipgnosis Founder and CEO Merck Mercuriadis said: “Justin Timberlake is not only one of the most influential artists of the last 20 years, he is also one of the greatest songwriters of all time.”
His hit songs include “Cry Me a River”, “Rock Your Body”, “SexyBack”, “My Love”, “What Goes Around… Comes Around”, “Suit & Tie”, “Mirrors” and “Can’ t Stop the Feeling” are among the most iconic of the era.’ (AND)
Source: Eluniverso
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