Update: Justin Bieber Officially Sells Music Catalog For More Than $200 Million

Justin Bieber

Update: Justin Bieber Officially Sells Music Catalog For More Than $200 Million

Update: (Jan. 24, 2022): Justin Bieber has closed on a very big deal!

According to reports, the Canadian native sold 100% of his publishing — as well as his artist royalties from his master recordings and neighboring rights — to Hipgnosis Songs. The deal was reportedly priced at a little over $200 million, marking this transaction as the largest rights sale for any artist of Justin’s generation.

The sale — which covers all 290 titles in Justin’s music catalog released prior to Dec. 31, 2021 — also makes history as Hipgnosis’ biggest acquisition to date.

Reportedly, another reason Justin’s deal is historic is that newer catalogs like the “Peaches” singer’s are considered riskier investments since they don’t have as much history behind them to prove longevity. Because of this, they often sell for lower multiples than those of classic acts.

Scooter Braun, Justin’s manager for 15 years, spoke on the lucrative deal and said,

“I want to thank Merck [Mercuriadis] (Hipgnosis’ founder and chief executive) and his entire Hipgnosis team and all of our partners involved for working so hard to make this historic deal happen.”

He added,

“When Justin made the decision to make a catalog deal we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis. For over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world. I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal.”

[VIA]

Original story: (Dec. 22, 2022):

Pop star Justin Bieber is the latest celeb auctioning off the rights to their music.

According to reports, the “Sorry” singer is closing in on a deal to sell his extensive music catalog for around $200 million.

Reportedly, Justin Bieber, 28, has been in talks with Hipgnosis Songs Capital, a Blackstone-backed company, to get the deal complete. Sources are adamant in clarifying the deal is not yet done. However, negotiations for the music collection are said to have been going on for some time. Reportedly, if/when Bieber’s shares are sold, his music will still be owned and distributed by Universal Music Group.

Justin Bieber

It seems talks of selling his music shares come at a turbulent time for the singer. As previously reported, the Grammy-winning artist has struggled to kick off his “Justice” world tour. After finally getting things started post-Covid, Bieber once again pushed back tour dates due to medical issues. The singer revealed he was struggling with a rare disease called Ramsay Hunt syndrome, which caused him partial facial paralysis.

@justinbieber says 'serious' health condition causing face paralysis reason for cancelling concerts pic.twitter.com/zrMKuL99kg

— Puntland Media Inc (@PuntlandInc) June 12, 2022

Additionally, the report notes that the market for buying/selling music catalogs is currently in a cool-down period. Reportedly, soaring asking prices, interest rates, and capital gains are making it increasingly harder for artists to sell their work. Still, musicians such as rappers Iggy Azalea and Future have recently managed to earn high payouts for their catalogs. Though the exact amounts of their deals were never disclosed, it’s reported both amounts were eight figures.

Bieber’s fellow pop singer Justin Timberlake also reportedly made a recent catalog-selling deal. The report says a deal with Hipgnosis earned Timberlake over $100 million for his catalog. Reportedly, Bieber’s shares in his music are small, but include mega chart-topping hits such as “Baby,” “Love Yourself,” and “Sorry.” Should the deal with Hipgnosis go through, it’s reported the acquisition will be the company’s largest to date.

[VIA]

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