Back up the Brinks truck to Justin Bieber’s house. Justin Bieber has sold his career-spanning catalog to Hipgnosis Songs Capital. The number reportedly is bringing back a whopping nine figures.
Hignosis has announced the acquisition of 100% of Bieber’s Publishing Rights, Master Recordings, and Neighboring Rights for his entire catalog for over 290 titles through Dec. 31, 2021.
According to The Wall Street Journal, the Hipgnosis/Bieber deal is worth around $200 million. Future releases from Bieber will still be under Universal Music Group.
“I want to thank Merck and his entire Hipgnosis team and all of our partners involved for working so hard to make this historic deal happen,” Bieber’s manager Scooter Braun said in a statement. “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 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”
Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, added: “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable. This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone. Scooter Braun has helped him build a magnificent catalog, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”
The post Justin Bieber Sells Music Catalog to Hipgnosis Songs Capitol for Reported $200M appeared first on The Source.