justin bieber sold its music catalog for 250 million US dollars (over 1 billion reais). The agreement includes all works published by the canadian singer before December 31, 2022. The company responsible for the purchase was Hipgnosis Songs Capital. It was the biggest deal for an artist of this generation.
The information, which was published by the magazine billboardhe also adds that royalties artistic of its main recordings, in addition to neighboring rights, now belong to the company. However, according to the The varietydespite the sale, the songs of bieber will continue to be managed by Universal Music, the artist’s label.
“Justin Bieber’s impact on global culture over the past 14 years has been truly remarkable. This acquisition is one of the biggest deals ever for an artist under 70, such is the power of this incredible catalog that has nearly 82 million monthly listeners and over 30 billion streams on Spotify alone,” Merck Mercuriadis, owner of Hipgnosis, said in a press release.
The British company, which invests in music intellectual property and music management, has also purchased catalogs from other artists. In 2021, he got Justin Timberlake’s for US$100 million (R$514 million) and bought 50% of Neil Young’s for US$150 million (R$772 million).
“Total troublemaker. Alcohol aficionado. Social media specialist. Friendly travel nerd.”