Justin Bieber is selling his music catalog to Hipgnosis

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CNN

Justin Bieber has joined a growing list of pop stars who have signed a rights deal, selling publishing and performing rights to his catalog of songs.

Bieber has sold his catalog to Hipgnosis, the music rights investment firm announced Tuesday.

“Justin is truly a once-in-a-generation artist and that is reflected and recognized by the scale of this deal,” Bieber’s longtime manager Scooter Braun said in a statement. “For 15 years, I am grateful to have witnessed this trip and today I am happy for everyone who went there. Justin’s greatness has only just begun.

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

According to Billboard, the deal is valued at $200 million. Rolling Stone called this sale the biggest artist of Bieber’s generation.

Bob Dylan, Bruce Springsteen, Neil Young, Stevie Nicks, Justin Timberlake, Sting and more recently sold royalties. Warner Music Group also bought British rock star David Bowie’s entire six-decade catalog.

Springsteen’s deal was worth about $550 million. Other artists’ catalogs sold for closer to Bieber’s haul.

By the end of 2021, many artists are rushing to sell their rights before the Biden administration allows capital gains tax hikes, Billboard editorial director Hannah Karp told CNN last year. . Others, especially late-career artists, have chosen to sell their rights for estate planning purposes, Karp said.

But some younger artists, like Bieber, are starting to sell. Imagine Dragons sold their catalog to Concord Music Publishing in August. Shakira signed a deal with Hipgnosis Songs Foundation this month for her entire catalog, which includes hits like “Hips Don’t Lie,” “Whenever, Wherever” and “Sholf Wolf.”

But Taylor Swift is fighting to retain creative control, re-recording some of her songs to secure publishing rights to her music.

— CNN’s Chloe Melas contributed to this report

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