Justin Bieber has sold his song catalogue to Hipgnosis Songs Capital for over $200 million USD in the company's biggest music rights acquisition to date, Billboard reports.
Hipgnosis confirmed to the publication that they had secured Bieber's publishing, as well as the pop star's artist royalties from his master recordings and neighbouring rights, in the largest rights sale for any artist of his generation — because, as the Rolling Stones' Keith Richards put it, "it's a sign of getting old."
As per Billboard's Kristin Robinson, newer catalogues are usually considered higher-risk investments without years of history to prove the artist's staying power. So typically, they sell for lower multiples than classic acts.
However, this is Justin Bieber we're talking about, so it seems like a pretty safe bet for the company. The deal covers all 290 titles in Bieber's catalogue released ahead of December 31, 2021, including his most recent album, Justice.
"The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable," Hipgnosis founder and chief executive Merck Mercuriadis said in a statement. "At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist."
Back in September, the pop star suspended his remaining world tour dates for the sake of his health. He was diagnosed with Ramsay Hunt syndrome last summer.
Neil Young, Leonard Cohen and Justin Timberlake are among the artists who have sold some of their rights to Hipgnosis over the last couple of years, while the likes of Genesis, Bruce Springsteen and Bob Dylan have made similar sales to different investors.
Hipgnosis confirmed to the publication that they had secured Bieber's publishing, as well as the pop star's artist royalties from his master recordings and neighbouring rights, in the largest rights sale for any artist of his generation — because, as the Rolling Stones' Keith Richards put it, "it's a sign of getting old."
As per Billboard's Kristin Robinson, newer catalogues are usually considered higher-risk investments without years of history to prove the artist's staying power. So typically, they sell for lower multiples than classic acts.
However, this is Justin Bieber we're talking about, so it seems like a pretty safe bet for the company. The deal covers all 290 titles in Bieber's catalogue released ahead of December 31, 2021, including his most recent album, Justice.
"The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable," Hipgnosis founder and chief executive Merck Mercuriadis said in a statement. "At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist."
Back in September, the pop star suspended his remaining world tour dates for the sake of his health. He was diagnosed with Ramsay Hunt syndrome last summer.
Neil Young, Leonard Cohen and Justin Timberlake are among the artists who have sold some of their rights to Hipgnosis over the last couple of years, while the likes of Genesis, Bruce Springsteen and Bob Dylan have made similar sales to different investors.
