Hipgnosis Songs Capital stated pop star sold his song publishing and recording catalogue holdings.
Pop juggernaut Justin Bieber has sold his music publishing and recording catalogue shares to the Blackstone-backed Hipgnosis Songs Capital for $200m, the company said, marking the industry’s latest blockbuster rights deal.
The sale has been rumoured for weeks and sees the 28-year-old join a who’s who of artists who have cashed out recently on their catalogues.
Justin Bieber sold his music publishing and recording catalogue stakes to Hipgnosis Songs Capital, a Blackstone-backed company, for $200m.
The 28-year-old joins a slew of musicians who have sold their catalogs recently.
Bieber sold over 150 million records after being found on YouTube.
He has eight Billboard number-one albums and more than 32 billion Spotify streams.
After being diagnosed with Ramsay Hunt syndrome, a rare complication of shingles that caused partial facial paralysis, Bieber announced an indefinite tour pause.
Music libraries have always changed hands, but the present publishing sales boom has accelerated, with financial markets increasingly drawn to lucrative music portfolios as an asset class.
Hipgnosis, Mercuriadis’s 2018 London Stock Exchange IPO, helped publicize the sales increase.
The Bieber transaction demonstrates investors still want music.
Radio play, streaming, album sales, advertising, and movie use all pay publishing rights holders. Recording rights govern reproduction and distribution.
Taylor Swift’s success re-recording her first six albums to own their master recording rights sparked a larger discussion about artists’ ownership of their work.
Swift’s public quarrel with Scooter Braun, the music manager whose company sold her original masters to Shamrock Holdings, prompted that action.
Braun, Bieber’s 15-year manager, said, “When Justin made the decision to sign a catalogue agreement we quickly realized the greatest partner to maintain and build this amazing legacy was Merck and Hipgnosis.”
The enormity of this agreement shows that Justin is a once-in-a-generation artist.
Bieber sold over 150 million records after being found on YouTube.
He has eight Billboard number-one albums and more than 32 billion Spotify streams.
After being diagnosed with Ramsay Hunt syndrome, a rare complication of shingles that caused partial facial paralysis, Bieber announced an indefinite tour pause.
Music libraries have always changed hands, but the present publishing sales boom has accelerated, with financial markets increasingly drawn to lucrative music portfolios as an asset class.
Hipgnosis, Mercuriadis’s 2018 London Stock Exchange IPO, helped publicize the sales increase.
The Bieber transaction demonstrates investors still want music.
Radio play, streaming, album sales, advertising, and movie use all pay publishing rights holders. Recording rights govern reproduction and distribution.
Taylor Swift’s success re-recording her first six albums to own their master recording rights sparked a larger discussion about artists’ ownership of their work.
Swift’s public quarrel with Scooter Braun, the music manager whose company sold her original masters to Shamrock Holdings, prompted that action.
Braun, Bieber’s 15-year manager, said, “When Justin made the decision to sign a catalogue agreement we quickly realized the greatest partner to maintain and build this amazing legacy was Merck and Hipgnosis.”
The enormity of this agreement shows that Justin is a once-in-a-generation artist.
