Justin Bieber is selling his music catalog in one of the biggest deals ever for a retirement artist
Canadian pop star Justin Bieber has signed a deal to have his music owned by Hipgnosis Song Management, an investment company backed by Blackstone Inc.
Hipgnosis bought Bieber’s share of the copyrights, master recordings and related rights for its entire back catalog, which includes more than 290 titles released before the end of 2021, Hipgnosis said in a statement Tuesday. Universal Music Group still owns the rights to the original catalog of the recorded music, according to a person familiar with the agreement.
Hipgnosis did not give any financial details. Bieber representatives did not immediately respond to a request for comment. Bloomberg reported in December that Bieber’s stake could fetch about $200 million.
“This acquisition ranks among the largest deals ever made for an artist under the age of 70,” said Merck Mercuriadis, founder and chief executive officer of Hipgnosis, in the statement.
Blackstone partnered with Hipgnosis in 2021, pledging to initially commit $1 billion to create a private vehicle called Hipgnosis Songs Capital to acquire music rights and manage catalogs. Kenny Chesney, Leonard Cohen and Justin Timberlake are among other artists whose work has been purchased by Hipgnosis and Blackstone.
The transaction was previously reported by the Wall Street Journal.
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