By Zuko Komisa
Justin Bieber has reportedly sold his music rights for a record-breaking R3,4 billion ($200 Million).
Justin Bieber sold Hipgnosis Songs Capital his share of his song rights.
This agreement is the largest music-rights acquisition for Hipgnosis, according to the Wall Street Journal.
The company now holds the pop star’s ownership interest in some of the biggest recent successes, including songs such as Where, are U Now, Love yourself and Sorry.
The business, a $1 billion joint venture between the American financial powerhouse Blackstone and the British Hipgnosis Song Management, now owns the publication rights to Justin Bieber’s 290-song back catalog.
Justin Bieber has sold his share of the rights to his music for a reported $200m.
— Daniel Mbiya (@DanielMbiya7) January 25, 2023
Hipgnosis Songs #Capital, who now own the #Canadian's share of his back catalogue, will now receive a payment anytime one of the songs is played in public. pic.twitter.com/poQ7WDEhSJ
The deal, according to BBC News includes all of his songs that were released prior to December 31, 2021.
It also included the purchase of the superstar’s artist rights to his master recordings.
Bieber one of the best-selling musicians of the twenty-first century has chosen to cash in on his catalogue.
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