canadian singer Justin Bieber has sold the rights to his music catalog to Hypgnosis for 200 million dollarsthus following the path of artists such as Bob Dylan Y bruce springsteenas reported by the company and a source close to the case.
“Hipgnosis has acquired all of Justin Bieber’s interests in his publishing rights (including the author’s portion of the performance), master recordings and related rights to his entire catalogue,” said Hipgnosis, the music rights management company that already owns those of the Red Hot Chili Peppers.
The deal is the latest in a long line of purchases of artist catalog publishing rights or copyrights, which have become valuable assets, especially with the streaming revolution.
The purchase was part of Hipgnosis’ partnership with financial management firm Blackstone, which announced in late 2021 a investment of 1,000 million dollars to keep buying music.
At 28 years old,Justin Bieber is one of the best-selling music artists of all time”, boasts Hypgnosis.
It may interest you: Justin Bieber is close to selling the rights to his music for 200 million dollars
Last year, Bieber canceled several concerts on his “Justice World Tour” due to his health issues related to the Ramsay Hunt syndromewhich paralyzes part of his face.
Bieber rose to fame at the age of 13 after the success of his song “Baby.” The pop star revealed in June that she had been diagnosed with Ramsay Hunt Syndrome, which left half of her face paralyzed and forced her to cancel his performances.
He is also a singer Justin Timberlake sold the rights to his songs, including hits like “Cry Me A River” and “Rock Your Body,” to Hipgnosis Song Management in May.
Blackstone and Hipgnosis Song Management Ltd announced a partnership in October to invest some $1 billion in music rights acquisition and catalog management.
In December last year, Swedish clothing retailer H&M reported that it had the rights to sell Justin Bieber lettering and image clothing that it pulled from stores after the pop star said he had not given his approval.
“Justin’s licensee has confirmed that H&M had the proper contracts and followed all appropriate approval procedures for each selected design,” H&M wrote in a statement.
Bieber urged his 270 million Instagram followers not to buy the merchandise, calling it “junk” and saying it was for sale without his approval. The next day H&M withdrew the items from the sale.
“Out of respect for Justin, we are removing the products from our website and stores and are working to find the best way to make use of them,” H&M said, adding that the company had been Bieber’s merchandise partner since 2016.
H&M, the world’s second-largest fashion retailer, put up for sale sweatshirts and T-shirts with photos of Bieber or quotes from his lyrics like “I miss you more than life” from the song “Ghost.”
(With information from AFP and EFE)
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