Justin Bieber presold the rights to his entire music catalog to Hipgnosis Songs Capital about $200 millionadding to a growing list of stars who have tried to make money this way in recent years.
The agreement includes more than 290 themes published until the end of 2021 by the Canadian artist, as reported by Hipgnosis, a British company backed by the Blackstone investment fund that already owns the rights to catalogs of other pop characters.
Although the company did not disclose the economic terms of the operation, various media such as Billboard, Rolling Stone or The Wall Street Journal indicate that it is about $ 200 million.
Bieber has released six studio albums to date, as well as several remix and compilation albums, but also dozens of singles and collaborations with other artists including famous titles like “Despacito” along with Luis Fonsi and Daddy Yankee.
The multi-million dollar deal for the sale of his catalog It is very unusual for an artist of his age. (28 years old) as most of these major surgeries have been performed by musicians in the latter part of their careers and with an established musical legacy.
Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars of recent years They sold the rights to their songs. for large amounts to various companies.
Hipgnosis for its part has recently become one of the most active companies in this field, acquiring the catalogs of artists like Shakira or Justin Timberlake, among many others.