Rumors had been circulating for weeks that Justin Bieber would have sold the rights to his songs. This Tuesday (24), Variety and Billboard confirmed the sale for US$200 million. 🤑
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All of the singer's releases were sold until December 31, 2021. In total, more than 290 titles.
Even so, the songs Justin Bieber will still be managed by Universal Music, the singer's longtime home.
In the negotiation, Bieber was represented by Scooter Braun, his manager since he was 15 years old, who thanked his former administrators.
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“For 15 years I have been grateful to witness this journey and today I am happy for everyone involved. Justin’s greatness is just beginning.”
Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, said: “The impact of Justin Bieber in global culture over the last 14 years has been truly remarkable. This acquisition is among the biggest deals ever made for an artist under 70…”.
The news arrived after a period of “quiet” for the singer, who postponed his “Justice” tour due to health problems.
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But what is selling a music catalogue?
When a singer or band sells its musical catalogue, the company that bought it becomes the owner of the reproduction rights. Then, the copyrights that were previously paid to the singer are now paid to the group that acquired them.
O artist receives a good amount at once, as in the case of Justin – 200 million U.S. $ – which he would probably only achieve over a long period of years. While Hipgnosis keeps the amount he would receive with the rights over the years.
Normally newer catalogs like Justin's would sell at lower prices, because the older, more classic ones have more stories. But its undeniable success managed to achieve a large sale.
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@curtonews Canadian singer Justin Bieber sold the copyrights to his songs, but what does this negotiation mean? O #CurtoNews ♬ original sound – Curto News
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