After several weeks of rumors, Justin Bieber finally joined the artists who have sold the rights to their music catalogs in recent years.
The buyer was Hipgnosis Songs Capital. Although the terms of the deal were not made public, a source close to the US weekly Variety revealed that the company paid around $200 million for the 28-year-old singer-songwriter’s music rights.
This means that Hipgnosis will get paid every time a song they own is used on radio, TV, or in a movie. According to the BBC News World portal, the songs of “the Canadian pop star” are among the best sellers of the 21st century.
In an interview for the British media, the director of the investment company, Merck Mercuriadis, declared that this is one of the largest sums paid to an artist under 70 years of age. Also, since his audience is still relatively young, the royalties will keep coming for “60 or 70 years.”
The deal covers Justin Bieber’s entire catalog by December 31, 2021, which includes approximately 290 songs and six albums, placing him among the top-selling singers of any era.
Justin entered the music scene in his teens and since then his songs have continued to achieve great commercial success. Each of his albums has sold at least a million copies. In addition, 69 million users listen to his music every month on the Spotify platform.
The news of the sale of copyright comes after the interpreter of Peaches he suspended his tour Justice for an unspecified date during “2023”.
Originally, it was supposed that the tour It was due to start in 2020, but was first postponed by the Covid-19 pandemic and then by the singer’s rare Ramsay-Hunt syndrome, which causes paralysis of the facial nerve.