Canadian pop sensation Justin Bieber has become the latest artist to sell his publishing and recorded music rights to the Blackstone Inc-backed entity Hipgnosis Songs Capital.
The blockbuster acquisition is said to be valued at around US$200 million (AU$283.8 million), according to The Wall Street Journal, and reportedly covers over 290 titles released before the end of 2021 (read: a serious library of bangers). That’s up until and including his last multi-platinum studio album Justice.
Universal Music Group, however, will retain of Bieber’s master recordings – otherwise known as recorded music copyright – in perpetuity, notes Hipgnosis themselves.
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“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” said Merck Mercuriadis, CEO of Hipgnosis.
“This acquisition ranks among the biggest deals ever made for an artist under the age of 70.”
“When Justin made the decision to make a catalogue deal, we quickly found the best partner to preserve and grow this amazing legacy was Merck [Mercuriadis] and Hipgnosis,” said Scooter Braun, longtime manager to Justin Bieber.
“For over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world. I’m so proud of him and all those involved over the years in helping amass this incredible body of work.”
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“Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal.”
Justin Bieber’s net worth has effectively been boosted to an estimated US$400 million (AU$567.7 million).
As alluded to by Mercuriadis, while high-profile names such as Justin Timberlake, Ryan Tedder, and Calvin Harris have been steadily offloading their own music rights similar to Bieber, this trend has certainly been more prevalent among older artists, i.e. Neil Young, Bob Dylan, Bruce Springsteen.
In late 2021, Blackstone committed US$1 billion (AU$1.4 billion) towards building Hipgnosis Songs Capital’s library of music rights. To date, they own the collected works of the following:
- 10cc
- 50 Cent
- Al Jackson Jr.
- Andrew Watt
- Andy Marvel
- Ari Levine
- The B-52s
- Barry Manilow
- Benny Blanco
- Bernard Edwards
- Blondie
- Bob Rock
- Brendan O’Brien
- Brian Kennedy
- Carole Bayer Sager
- Chris Cornell
- Chrissie Hynde
- Christine McVie
- David A. Stewart
- Enrique Iglesias
- Eric Bellinger
- Fraser T. Smith
- George Benson
- Giorgio Tuinfort
- Itaal Shur
- Jack Antonoff
- Jamie Scott
- Jason Ingram
- Jimmy Iovine
- Johnta Austin
- Jon Bellion
- Jonathan Cain
- Journey
- Justin Bieber
- Justin Timberlake
- Kaiser Chiefs
- Kenny Chesney
- LA Reid
- Leonard Cohen
- Lindsay Buckingham
- Mark Ronson
- Michael Knox
- Nate Ruess
- Neal Schon
- Neil Young
- Nikki Sixx
- Normani
- Poo Bear
- Pusha T
- Red Hot Chili Peppers
- RedOne
- Rhett Akins
- Richie Sambora
- Rick James
- Rico Love
- Rodney Jerkins
- RZA
- Sam Hollander
- Sean Garrett
- Shakira
- Skrillex
- Starrah
- Steve Winwood
- Teddy Geiger
- The Chainsmokers
- The-Dream
- Timbaland
- TMS
- Tom DeLonge
- Tricky Stewart
