According to pitchfork.com artist Justin Bieber has sold his song catalog to Hipgnosis Songs Capital. The company announced in press release that the catalog was sold for over $200 million. Hipgnosis has acquired Bieber’s publishing copyrights, master recordings and neighboring rights from Bieber‘s catalog.
The sale includes Bieber’s six studio albums My World 2.0, Under the Mistletoe, Believe, Purpose, Changes and Justice . Also the albums My World and Journals along with the hit singles “Baby,” “Boyfriend,” “What Do You Mean?” “Sorry,” “Love Yourself,” “Yummy,” “Holy” and “Peaches” are also a part of the deal.
However the Universal Music Group will still own Bieber’s recorded music masters in perpetuity. This deal makes Hipgnosis’s the largest music-rights acquisition to date.
Back in 2021 Hipgnosis purchased 50 precent stake of Neil Young’s songwriting catalog and in the following year Leonard Cohen’s estate sold the entire songwriting catalog to Hipgnosis. The financial details of both acquisitions remain private for the time being. Last year Justin Timberlake sold his song catalog to Hipgnosis for a reported value of just over $100 million.
Others who have cashed in their catalog’s are Universal Music Publishing, who bought the publishing rights to Bob Dylan’s entire catalog in 2020 for over $300 million. Then shortly after the deal, Dylan sold the master rights of his recorded music catalog to Sony Music Entertainment for $200 million. Also Sony scooped up Bruce Springsteen‘s masters and publishing catalog for a reported $550 million late last year.
On another note there are some artists who are members of larger groups who have sold stakes in their band’s catalog. For example, Julian Casablancas sold his share in the Strokes’s catalog to Primary Wave, while Public Enemy’s Chuck D sold a major stake in his songwriting catalog to his longtime publisher Reach Music.
Leave a Comment