Justin Bieber is officially $200 million richer. The singer has closed a deal with Hipgnosis Songs Capital to transfer the rights to 291 of his songs for $200 million.
The deal encompasses any song he’s collaborated on or has stake in since 2021, totalling nearly 300 individual hits. This includes the songs from all six of his studio albums, My World 2.0, Under the Mistletoe, Believe, Purpose, Changes, and Justice.
Merck Mercuriadis, the founder of Hipgnosis, released a statement emphasizing how ground-breaking the deal is.
" This acquisition ranks among the biggest deals ever made for an artist under the age of 70," he explained. "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."
Justin’s manager, Scooter Braun, also confirmed that the deal was sealed, and that his client is happy with the outcome. "Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal," Scooter said.
He added, "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.”
Justin was rumored to be in negotiations last month, with reports saying this was bound to be the biggest acquisition in Hipgnosis’ history. Prior to the deal, Justin had a cool net worth of $285 million. But thanks to the big pay day, his fortune will nearly double in value.
This isn’t the only music catalog Hipgnosis recently purchased, though it may be the most expensive. In 2021, they bought the rights to Justin Timberlake’s work for $100 million.
“Justin Timberlake is not only one of the most influential artists of the last 20 years, but he’s also one of the greatest songwriters of all time,” Merck Mercuriadis said at the time.
“His hit songs including Cry Me a River, Rock Your Body, SexyBack, My Love, What Goes Around… Comes Around, Suit & Tie, Mirrors and Can’t Stop the Feeling are amongst the most iconic of the period,” the music executive continued.
An increasing number of musicians have begun selling their musical catalogs for huge pay days. At the end of 2022, Iggy Azalea sold hers for an undisclosed amount, though it was reportedly an eight-figure deal.
One of the biggest acquisitions ever made was when Bruce Springsteen sold his publishing rights in 2021 for a whopping $500 million.
Sources: PEOPLE,
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