Justin Bieber sells entire song catalogue for $200m
Justin Bieber has become the youngest of all music performers to sell the entire rights to his songs.
The 28-year-old reportedly sold it to Hipgnosis, the same firm that has bought out catalogues of much older stars for more money and with more material.
Universal Music Group will own Bieber’s master recordings. But all the songs like “Peaches” will be owned by Hipgnosis including parts of songs he wrote with other people.
The price is $200 million, which, Showbiz 411 reports, after taxes and paying all the lawyers involved, and maintaining Bieber’s lifestyle, is not a lot.
This deal, according to the outlet, is surprising because it suggests a couple of things: that Bieber’s touring and recording future are question marks. The singer has cancelled many tours and pieces of tours because of exhaustion, and also because of medical issues like face paralysis. He’s conceded that he suffers from depression.
The recording part is unusual for his age, as well. Most of the artistes who’ve sold their catalogues are over 60 or more, are past their sales prime and are working on estate planning. They’re not in the chart game anymore and make their money from lucrative tours or residencies in Las Vegas.