Justin Bieber has reportedly sold his entire back catalogue for $200 million (£162 million), becoming the latest artist to cash out on their music rights. The Baby singer, 28, has handed over the rights to his music to Hipgnosis Songs Capital, meaning that the company will be paid every time a Justin Bieber tune is played in public.
The agreement was announced today by Hipgnosis Songs Capital after it emerged that the singer was closing in on a deal to sell his music catalogue. The deal also includes Justin’s work with other artists, including Nicki Minaj, Ed Sheeran and DJ Khaled.
The hitmaker’s back catalogue includes seven number one UK singles from his 15-year recording career such as Sorry, Peaches and What Do You Mean? Justin, who is worth an estimated $300m, has recorded six studio albums throughout his career and has sold over 150m records worldwide.
The news comes after Justin Timberlake reportedly sold his music catalogue to Hipgnosis last year for $100m (£80m). The Cry Me A River singer announced the deal in a statement, which read: “I am excited to be partnering with Merck and Hipgnosis – he values artists and their creative work and has always been a strong supporter of songwriters and storytelling.”
The founder and CEO of Hipgnosis, Merck Mercuriadis, said at the time of the deal: “Justin Timberlake is not only one of the most influential artists of the last 20 years but he’s also one of the greatest songwriters of all time.” The Hipgnosis CEO added that rights to the Mirrors singer’s catalogue was the company’s third business deal of 2022 and it took over 12 months to close.