Author: Scarlett Pham
Justin Bieber is prepared to sell the publishing and recorded music catalog to the Blackstone-backed Hipgnosis Songs Capital for $200 million. It has been rumored for weeks, first reported by Hits and the Wall Street Journal.
If the deal successfully seals, this will be the biggest deal of Hipgnosis Songs Capital. Earlier this year, the company bought Justin Timberlake's catalog for more than $100 million.
Justin Bieber rose to fame in the late 2000's, notably with his global hit "Baby." To date, he has released six quality studio albums, adding more hits to his career such as "Sorry," "Love Yourself," "Peaches," "Intentions" and "Yummy." His impressive collaborations such as "I'm the One" with DJ Khaled, "STAY" with The Kid LAROI, and can't not to mention the biggest song of 2017 "Despacito" with Luis Fonsi and Daddy Yankee.
At the age 28, Bieber would become one of the youngest artists to sell his music rights. Investing in older catalogs is considered a safer and wiser move for companies because the popularity of these catalogs has been proven.
Let's hope Bieber the best and stay tuned for more news.