Justin Bieber has reportedly sold the rights to his music to Hipgnosis Songs Capital for a massive sum.
NBC confirms that the deal includes a back catalog with over 290 titles, including mega hits such as “Sorry” and “Despacito.” The agreement is between Justin and U.K.-based Hipgnosis Songs Capital, which includes all of Bieber’s music released before Dec. 31, 2021.
Merck Mercuriadis, the founder and CEO of Hipgnosis Song Management, said in a statement. “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable… 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.”
Mercuriadis reveals that the acquisition ranked “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,” he further said.
NBC further revealed that Scooter Braun, the CEO of Hybe America and Bieber’s manager of 15 years, referred to the latest agreement as a “historic deal,” confirming in a statement: “When Justin made the decision to make a catalogue deal, we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis.”
“Justin is truly a once-in-a-generation artist, and that is reflected and acknowledged by the magnitude of this deal,” Braun revealed. “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.”
The Wall Street Journal had previously reported that the deal was expected to reach around a massive $200 million value. However, TV1 News was not able to confirm the amount.
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