Justin Bieber sells rights to songs for $200m
BBC reported that Justin Bieber has sold his share of the rights to his music to Hipgnosis Songs Capital for a reported $200m.
The firm now owns the pop star’s stake in some of the biggest hits of recent years – including “Baby” and “Sorry”.
Bieber, one of the best-selling artists of the 21st Century, joins a growing group of artists who have cashed out on their catalogues.
The move means Hipgnosis will receive a payment every time a song they own part of is played in public.
The company -a $1bn venture between financial giant Blackstone and the British Hipgnosis Song Management – acquired Bieber’s publishing copyrights to his 290-song back catalogue.
That includes all of his music released before 31 December 2021 – and his writer’s share.
