One of Hollywood’s finest, Justin Bieber, is breaking a world record yet again with a deal worth hundreds of millions of dollars.
The 28-year-old pop icon is known to have topped charts with his outstanding musical prowess while also winning highly coveted accolades like the Grammys and American Music Awards.
Now, he has closed a deal with an investment company, selling all his music rights for a stupendous amount of money, making him to first to acquire such a feat in his generation.
Justin Bieber Closes $200 Million Major Music Rights Deal With Hipgnosis
Bieber made an agreement with Hipgnosis Songs Capital to sell 100% of his music catalog, including his royalties from his “master recordings and neighboring rights.”
Hipgnosis confirmed the news to Billboard, noting that the deal was worth about $200 million, the largest rights sale yet for any musician of the celeb’s contemporaries. Additionally, the deal is the investment company’s most significant to date, encompassing all of Bieber’s 290 titles in his catalog.
The collection included all the music pieces the “Baby” songster released before December 2021, including the 2021 album, also his latest “Justice.” It was initially revealed in December that a deal with Bieber priced at more than $200 million was taking place.
At the time, Hipgnosis founder and chief executive Merck Mercuriadis endeavored to “close about $500 million in deals” between the middle of November and December. However, Mercuriadis remained close-mouthed about the details of the deal even though the Bieber procurement seems to be part of the closure.
Earlier in 2021, catalog sales featuring deals with legends like Bruce Springsteen and Paul Simon made headlines, with some major companies like Blackstone and Apollo Global Management investing in the market.
Later in 2022, Hipgnosis acquired more music rights of some celebrities, including Justin Timberlake, Leonard Cohen, Nile Ridgers, Nelly Furtado, Kenny Chesney, and Neil Young. It is important to know that newer catalogs like Bieber’s are seen as dicey investments, given that they have a limited amount of history to maintain their existing power. This implies that they typically sell for lower values than the classics.
Nevertheless, the “Under the Mistletoe” singer has made noticeable success since his debut album “My World,” followed by “My World 2.0,” which produced his chart-topping single “Baby.” Mercuriadis released a statement about Bieber’s impact on “global culture over the last 14 years,” which he described as “truly remarkable.” He went on:
“At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from a teen phenomenon to a culturally important artist.”
At the same time, Scooter Braun, the Brit Awards recipient’s manager for 15 years, acknowledged his client’s excellence while also appreciating Hipgnosis for making the historic deal a success. Several weeks before the closure of Bieber’s deal, The Blast reported details of the sale, naming all his six studio albums, including singles and remixes, as part of the deal.
It was also noted that while the deal would be an impressive win if successful, placing stakes in music with a low life span was riskier. This is likely because people are interested in new songs when they are initially released, with the popularity fading eventually.
And like the Grammy winner, Timberlake made a deal with Hipgnosis but for a lesser value of about $100 million in 2022.
The ‘10,000 Hours’ Singer Tells Fans Not To Buy Unapproved H&M Bieber-Themed Merch
Since Bieber got into the limelight, he has collaborated with numerous brands worldwide in various niches. However, it seems he has no ties with the fashion brand H&M as he called them out not long ago.
As previously reported, the company designed a merch collection comprising hoodies, tops, and phone cases, using the “Peaches” singer’s identity without his approval, prompting him to tell fans not to purchase any of the wears.
He took to his Insta Story to slam H&M with a statement that read, “I didn’t approve any of the merch collection that they put up at H&M.. all without my permission and approval.”
He added, using all caps, “Smh, I wouldn’t buy it if I were you,” which he repeated in another update and called the merch “trash.”