Justin Bieber sold music rights for $200 million

Justin Bieber sold his music rights to Hipgnosis Songs Capital for more than $200 million, the company confirmed Tuesday.

Bieber’s manager Scooter Braun said in a statement, “Justin is truly the artist of a generation and that is reflected and acknowledged by the magnitude of this deal.” “For 15 years I have been grateful to witness this journey, and today I am happy for everyone involved. Justin’s greatness is just beginning.”

The deal covers Bieber’s 291 songs released before the end of 2021 from his latest album “Justice”.

Hipgnosis celebrated the sale on Instagram, writing: “Welcome to the Hipgnosis family @justinbieber.”

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Following the sale, Bieber’s master recordings would reportedly still be administered by Universal Music, and the company would still own the master recordings in perpetuity.

justin bieber on the red carpet

Justin Bieber sold his music catalog for $200 million. (Dimitrios Kambouris / Getty Images for the Met Museum / Vogue / Getty Images)

Bieber’s catalog is reportedly the largest acquisition for the music rights group and reportedly the largest ever for a musician of his age.

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“This acquisition ranks among the largest deals ever made for an artist under the age of 70,” said Mark Mercuridis, founder of Hipgnosis Song Management, per Variety. “At only 28 years old, he is one of the defining artists of the streaming era that has revitalized the entire music industry.”

Young artists are often considered more of a risk in catalog sales because their songs haven’t yet stood the test of time, but the “Never Say Never” singer’s continued success makes her an exception, according to the outlet.

justin bieber tours

The deal covers Bieber’s 291 songs released before the end of 2021 from his latest album “Justice”. (Jason Merritt / Getty Images)

Justin Timberlake, Neil Young, Kenny Chesney, Leonard Cohen, Nile Rodgers and Nelly Furtado previously had similar deals with Hipgnosis.

Timberlake sold his catalog for a little over $100 million, and Young sold his 50% for around $150 million.

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justin bieber perform

Hipgnosis said the ‘Never Say Never’ deal with the singer was the ‘biggest’ deal for an artist under the age of 70. (Cliff Lipson / CBS via Getty Images / Getty Images)

In 2020, Bob Dylan sold his song catalog to Universal Music Publishing for $400 million, Variety reported.

Generally, publishing rights are not as valuable as the actual recorded songs and albums; However, revenue from advertising and movie licensing can provide a significant profit over time, especially for popular artists like Bieber.

A representative for Bieber did not immediately respond to Fox Business’s request for comment.

Fox Business’ Phillip Nieto contributed to this report.

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