Deal with Hipgnosis Song Management also includes publishing and recording rights to all Justin Bieber songs released through December 2021
Justin bieber sold the publishing rights and all 290 titles in its music catalog, released before December 31, 2021, to Hypgnosis Song Managementin partnership with funds supported by Blackstone Inc. The deal, widely publicized by the media last month, was closed at just over US$ 200 million (over R$ 1 billion at current prices), according to Rolling Stone USA.
The company also acquired the catalogs of Justin Timberlake, Shakira and Neil Young – but for less than the negotiation with the composer of “Baby,” making this the biggest rights sale for any artist of Bieber’s generation. Sources tell Variety that the songs of Bieber will continue to be managed by Universal Musicthe singer’s longtime label.
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Bieber follows in the footsteps of colleagues like Iggy Azalea,Genesis, skylar gray, Justin Timberlake, Bruno Mars, Shakira, Neil Young, Bob Dylan and Motley Crüewho have also sold their music catalogs in recent years.
The trend has been popular with renowned veteran musicians who have left their musical legacies in the hands of specialist music companies, who now professionally control all their publications, while receiving large sums of money for their heirs.
Typically, newer catalogs like that of Bieber are considered riskier investments as they don’t have much history behind them to prove staying power. This means that they often sell for lower multiples than classic acts.
“The impact of Justin bieber in global culture over the past 14 years has been truly remarkable,” said Merck MercuriadisCEO of Hypgnosis Song Management in a press release. “At just 28 years old, he is one of the few artists who defined the era of streaming that revitalized the entire music industry, with nearly 82 million monthly listeners and over 30 billion streams on Spotify alone.
For purchasing companies, negotiation is quite advantageous at the moment. Royalties, licensing and brand agreements previously received by authors will go to the new owners. Thus, it will be up to them to decide in which media (films, TV programs and advertising, for example) the compositions should appear or not. For the public, however, there are no significant changes.
the success of Justin bieber has been undeniable since their debut album My World (2009), and the 2010 successor, My World 2.0the latter of which topped the Billboard 200 album chart and included the hit single “Baby”. In all, the Canadian has achieved eight number one albums on the Billboard 200 chart, including his most recent full studio release, justice (2021).
Source: Rollingstone
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
