Canadian award winning musician, Justin Bieber is set to make history selling off rights to his music in a multi million dollar deal. According to The Wall Street Journal, the pop idol is nearing completion on the sale to Hipgnosis Songs Capital, reportedly for over $200 Million.
This deal would be one of the biggest acquisition in music history once completed. The rights to his entire music catalogue would include the 28 year olds six studio albums dating as a far back as 2010, several singles and even collaborations.
Popularly referred to as the prince of pop, and once the most searched person on the internet for four years straight, Bieber and his work have influenced various recording artists till date. Sources say once the deal is successfully completed Bieber’s shares of his publishing and recorded-music catalog, will also continue to be administered and owned (respectively) by Universal.
Although Reps for Bieber and Hipgnosis have not confirmed the news publicly, the development comes during an unsettling time for the singer – weeks after he postponed the remaining dates in his “Justice” tour until an unspecified time “next year.”
The tour, originally scheduled since 2020, has been postponed or delayed several times, initially due to the pandemic but most recently following his bout with Ramsay Hunt syndrome health diagnosis.
Hipgnosis Songs Capital is the same company who gave American singer songwriter Justin Timberlake half as much for his catalogue. With sales of over 88million records, catalog rights to Justin Timberlake’s discography sold for $100 million.