Ladies and gents, Bieber has secured the bag.
The Canadian superstar has sold his entire back catalog of music to music rights investment company Hipgnosis Songs Capital for a whopping $200 MILLION.
That's right -- 200 big ones.
Hipgnosis confirmed that they have closed the deal to buy 100% of Justin Bieber's publishing, as well as his artist royalties from his master recordings and neighboring rights. This makes it the largest rights sale for any artist of Bieber's generation and also Hipgnosis's biggest acquisition to date. It covers all 290 titles in Bieber's catalog released prior to Dec. 31, 2021, including his most recent album, Justice (2021).
It's not just Bieber who's getting in on the catalog-sale game. Lots of other artists have done the same recently -- including Bruce Springsteen, Paul Simon, Justin Timberlake, Leonard Cohen, Nile Rodgers, Kenny Chesney, Neil Young, Nelly Furtado, Sting, David Bowie‘s estate, Phil Collins and his Genesis bandmates, Future, Frank Zappa‘s estate, and Neil Diamond.
"The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable," said Hipgnosis CEP Merck Mercuriadis in a statement. "At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist. This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone. Scooter Braun has helped him build a magnificent catalogue, and it's a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family."