Justin Bieber has sold the rights to his publishing and artist royalties from his song catalog. He joins a growing list of pop stars who have made similar deals.
The singer, 28, sold his catalog to Hipgnosis, the music rights investment company announced Tuesday (January 24). The deal is valued at $200 million. The sale has been called the largest of any artist of Bieber’s generation. Bieber’s net worth is estimated to be about $400, per Celebrity Net Worth. As we’ve earlier reported, Justin Timberlake sold his catalog to the same company last May. Hipgnosis paid around $100 million for the acquisition. Timberlake, 41, has sold more than 150 million records (88 million as a solo artist and 70 million with ‘NSYNC).
“Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal,” Bieber’s longtime manager, Scooter Braun, said in a statement. “For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”
According to the Recording Industry Association of America (RIAA), the “Peaches” singer has sold 21.5 million albums and 111.5 million digital singles units as a lead artist in the United States.
Hipgnosis has acquired catalogs from Neil Young, Shakira, the Red Hot Chili Peppers, Leonard Cohen, Barry Manilow, Fleetwood Mac’s Lindsey Buckingham, Motley Crue’s Nikki Sixx, the Chainsmokers, Jack Antonoff and others.
Younger artists like Imagine Dragons sold their catalog to Concord Music Publishing in August. Meanwhile, artists like Taylor Swift are taking the opposite tactic, fighting to maintain creative control and re-recording her first six albums to gain publishing rights to her music.