Justin Bieber, the Canadian pop star, has decided to sell the rights to his entire musical catalog to the company Hipgnosis Songs Capital, who announced the purchase yesterday, for around 200 million dollars. In this way, the singer joins a growing list of stars who in recent years have sought to make money in this way.
The agreement includes more than 290 songs published until the end of 2021 by the Canadian artist, including those that propelled him to success, such as Baby, Boyfriend, Beauty and a Beat or Love Yourself. Hipgnosis, a British firm backed by the investment fund Blackstone, already owns the rights to catalogs of other pop figures, such as Shakira or Justin Timberlake.
Although the company has not disclosed the economic terms of the operation, various media such as Billboard, Rolling Stone or The Wall Street Journal have pointed out that the purchase figure amounts to approximately 200 million dollars.
Bieber has released six studio albums to date, as well as several remix and compilation albums, but also dozens of singles and collaborations with other artists, including great hits such as Despacito, along with Luis Fonsi and Daddy Yankee.
The multi-million dollar agreement for the sale of his catalog is very unusual for an artist his age (28 years). Most of these large operations have been carried out by musicians in the final part of their careers and with a well-established musical legacy. Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars who in recent years have sold the rights to their songs for large amounts to different companies.
This is the singer's first big decision after having to cancel his world tour, Justice World Tour, last October, which was to go through Madrid and Barcelona. According to the artist, he had to prioritize his health, which was affected by Ramsay Hunt Syndrome, which paralyzes part of his face.
