Did Justin Bieber sell rights to his music for $200m? Everything you need to know about the deal MGG

Justin Bieber cracked an impressive deal for his music. He has reportedly sold the rights to his music for a whopping $200m. This makes him the youngest pop star to cash in on his life’s work.

Bieber sold the rights to his 291 songs which he has either released, or had any interest in, up until 2021. The 28-year-old singer sold his music to Hipgnosis Songs Capital, the music rights business backed with an initial $1bn from the private equity firm Blackstone.

Who owns Hipgnosis Songs Capital – the music rights business that acquired Justin Bieber’s songs?

According to The Guardian, the business is managed by Hipgnosis Song Management, and is run by the music magnate Merck Mercuriadis. Mercuriadis has also founded Hipgnosis – a London-listed music rights business, which has spent $2bn since 2018.

Talking about the deal with Bieber, Mercuriadis noted that this is one of the biggest deals made for an artist under the age of 70. said Mercuriadis. Continuing further, the music mogul praised Justin Bieber, calling him one of the defining artists who breathed new life into the music industry in the era of streaming.

With the deal with Justin Bieber, Hipgnosis will earn a payment, every time a song it owns is played on radio, film or TV, or streamed on online platforms. As per BBC, the business has also acquired Bieber’s share in the original master recordings of his songs.

Justin Bieber joins the growing list of artists who cash out their catalogues

In the period of 11 years from 2010 to 2021, Justin Bieber has recorded a total of six studio albums. In addition to this, the Baby singer has also released several remixes and compilation albums.

Not only this, Bieber also has a number of singles released to his credit. The pop superstar is also a huge believer in collaborations – Luis Fonsi and Daddy Yankee’s Despacito being one among them.

Most lifetime catalogue deals are usually done by artists towards the end of their legendary music careers. This includes the likes of Bob Dylan, Neil Young, Tina Turner, Bary Manilow, and Blondie. With his multi-million dollar deal with Hipgnosis, Bieber has joined the growing list of artists who cash out their catalogues.