Popular Canadian-American singer Justin Beiber has sold his publishing and recorded music rights (catalog) which includes many hits for a reported sum of $200 Million.
The musician sold the catalog and his rights to hits like “Baby” and “Boyfriend” to Hipgnosis Songs Capital, marking yet another blockbuster music catalog acquisition.
According to Variety, Bieber’s songs will continue to be administered by Universal Music, his longtime home.
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In a statement, Bieber’s longtime manager Scooter Braun said, “When Justin made the decision to make a catalogue deal we quickly found the best partner to preserve and grow this amazing legacy was Merck [Mercuriadis] and Hipgnosis.
‘‘For over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world. I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal.”
Source: rollingstone.com
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