February 1, 2023

Justin Bieber sells his music catalog

2 min read

New York

Justin Bieber has sold his publishing and artist royalty rights to his catalog of songs, joining a growing list of pop stars who have signed rights deals.

Bieber sold his catalog. Hypognosisthe music rights investment company announced Tuesday.

Bieber’s longtime manager, Scooter Braun, said in a statement, “Justin is truly a generational artist and that is reflected and acknowledged by the magnitude of this deal.” “For 15 years I have been grateful to witness this journey and today I am happy for everyone involved. Justin’s greatness has only just begun.

Bieber’s publicist did not immediately respond to CNN’s request for comment.

The deal is worth $200 million. Billboard. rolling Stone The sale marked the biggest sale of any artist of Bieber’s generation.

Bob Dylan, Bruce Springsteen, Neil YoungStevie Nicks, Justin Timberlake, Sting And many others have recently sold their royalty rights. Warner Music Group also bought the late British rock star. By David Bowie The entire catalog spanning six decades.

Springsteen’s contract was worth about $550 million. Other artists’ catalogs have reportedly sold for close to Bieber’s purchase.

Hannah Karp, Billboard’s editorial director, told CNN last year that many artists had reached the end of 2021 to sell their rights before the Biden administration allowed a capital gains tax increase. Others, especially artists nearing the end of their careers, choose to sell their rights for estate planning purposes, Karp said.

But some younger artists like Bieber have also started selling. Imagine Dragons sold their catalog to Concord Music Publishing in August. Shakira snagged a deal announced this month with the Hipgnosis song fund for her entire catalog, which includes hits like “Hips Don’t Lie,” “Whenever, Wherever” and “She Wolf.”

But Taylor Swift is fighting to retain creative control and is re-recording some of his songs to gain publishing rights to his music.

— CNN’s Chloe Melas contributed to this report.

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