Singer Justin Bieber became the youngest pop star to cash in on his catalogue with his multi-million deal with Hipgnosis Songs Capital. Read on to know more.
He has reportedly sold the rights to his music which has either released or had any interest in, up until 2021, for a whopping $200m.
According to The Guardian, the business is managed by Hipgnosis Song Management and is run by the music magnate Merck Mercuriadis. Mercuriadis has also founded Hipgnosis – a London-listed music rights business, which has spent $2bn since 2018.
Talking about the deal with Bieber that this is one of the biggest deals made for an artist under the age of 70. Continuing further, the music mogul praised him calling him one of the defining artists who breathed new life into the music industry in the era of streaming.
With the deal with the Stay crooner Hipgnosis will earn a payment, every time a song it owns is played on radio, film or TV, or streamed on online platforms. As per BBC, the business has also acquired Bieber’s share in the original master recordings of his songs.
In the period of 11 years from 2010 to 2021, Bieber recorded six studio albums and in addition he also he also launched several remixes and compilation albums.
Most lifetime catalogue deals are usually done by artists towards the end of their legendary music careers. This includes the likes of Bob Dylan, Neil Young, Tina Turner, Bary Manilow, and Blondie. With his multi-million dollar deal with Hipgnosis, Bieber has joined the growing list of artists who cash out their catalogues.