Singer Justin Bieber has struck gold – again. In a deal worth up to $200m, Justin Bieber sells rights to his music such as “Baby” and “Love Yourself”.
This makes Bieber one of the youngest superstars to sell their lifetime’s work for a multi-million sum. The 28-year-old has sold all the rights to the 291 songs he has released, or has an interest in, up until the end of 2021. They were acquired by Hipgnosis Songs Capital, the music rights business backed by a private equity firm.
Typically, these deals are made with legacy artists over the age of 70 that want to cash in on their catalogues while they can still enjoy the benefits, either for them or their famiies.
Bieber released six studio albums so far, as well as a number of remix and compilation albums. He has also released dozens of successful singles and worked with many other titles with performers such as Luis Fonsi and Daddy Yankee’s Despacito.
Bieber’s hit catalogue
When Bieber sells his rights to his music, the investors are betting on the future earning potential of his hit catalogue. Bieber’s own career has been on pause for health issues of late. But at 28, he has plenty of time to make a comeback or see other, new performers cover his hits over the coming years.
Other deals signed by Hipgnosis (pronounced “hypnosis”) include Leonard Cohen, Kenny Chesney, Eurythmics, Nelly Furtado and Justin Timberlake. Check this video to understand why Hipgnosis invests in catalogues such as Bieber.