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Justin Bieber sells his music catalog for about US $ 200 million

Justin Bieber sold the rights to his entire music catalog to the company Hipgnosis Songs Capital for around 200 million dollars, joining a growing list of stars who have sought to make cash in this way in recent years.

The agreement includes more than 290 songs published until the end of 2021 by the Canadian artist, as reported Hypgnosisa 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 remixes and compilation albums, but also dozens of singles and collaborations with other artists, including such well-known titles as “Despacito”, along with Luis Fonsi and Daddy Yankee.

The multi-million dollar agreement for the sale of his catalog is very unusual for an artist 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 DylanBruce Springsteen, Neil Young or Sting are some of the stars that in recent years have sold the rights to their songs for large amounts to different companies.

Hypgnosisfor its part, has recently become one of the most active firms in this area, taking over the catalogs of artists such as Shakira either Justin Timberlakeamong many others.

Source: EFE

Source: Gestion

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