Written in ENTERTAINMENT he
justin bieber sold the rights to its entire music catalog to the company Capital of Hipgnosis Songs for around $200 million, adding to a growing list of stars who in recent years have sought to make money this way.
The agreement concerns more than 290 songs published until the end of 2021 by the Canadian artist, according to Hipgnosis, a British firm backed by the Blackstone investment fund and which already holds the rights to the catalogs of other pop figures. .
Although the company has not disclosed the economic terms of the operation, various media such as Billboard, Rolling Stone or The Wall Street Journal point out that it amounts to around 200 million dollars.
justin bieber To date, he has released six studio albums, as well as several remixes and compilation albums, as well as dozens of singles and collaborations with other artists, including renowned tracks such as “Despacito”, alongside Luis Fonsi And Dad Yankee.
The multi-million dollar agreement for the sale of his catalog is very unusual for an artist of his age (28 years old) since most of these big operations have been carried out by musicians at the end of their career and with a know-how well established. musical heritage.
Who is Hipgnosis Songs Fund?
It is a British intellectual property investment and song management company, co-founded in 2018 by Nile Rodgers and Merck Mercuriadis, who at the time managed the careers of personalities such as Beyoncé or Elton John.
Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars who in recent years have sold the rights to their songs for large sums to different companies.
Hipgnosis, for its part, has recently become one of the most active companies in this field, acquiring the catalogs of artists such as Justin Bieber, Shakira and Justin Timberlake, among many others.
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