The Wall Street Journal had reported in December that the artist was ceding his rights for some 200 million dollars, a figure confirmed to AFP on Tuesday by a source close to the case.
“Hipgnosis has acquired all of Justin Bieber’s interests in his publishing rights (including the author’s portion of the performance), master recordings and related rights to his entire catalogue,” said Hipgnosis, the music rights management company that already owns those of the Red Hot Chili Peppers.
Hipgnosis did not disclose the amount.
The repertoire includes more than 290 songs published before December 31, 2021, including their greatest hits Baby, sorry Y love yourself.
The deal is the latest in a long line of purchases of artists’ catalog publishing rights or copyrights, which have become valuable assets, especially with the art revolution. streaming.
The purchase was part of Hipgnosis’ partnership with financial management firm Blackstone, which announced a billion-dollar investment in late 2021 to continue buying music.
Justin Bieber, 28, is one of the best-selling music artists of all time, boasts Hipgnosis.