Dimitrios Kambouris/Getty for The Met Museum/Vogue Justin Bieber
Justin Bieber has received a yummy, yummy payday after selling his 291-song catalog for a reported $200 million.
On Tuesday, the 28-year-old Grammy-winning musician sold the rights to every song he's released, or had interest in, up until the end of 2021 to Hipgnosis Songs Capital — the same company to which artists including Kenny Chesney and Justin Timberlake have recently sold their catalogs.
The sale includes Bieber's six studio albums — My World 2.0, Under the Mistletoe, Believe, Purpose, Changes and Justice — and other projects including My World and Journals, as well as the hit singles "Baby," "Boyfriend," "What Do You Mean?" "Sorry," "Love Yourself," "Yummy," "Holy" and "Peaches," among others.
Billboard priced the deal at just over $200 million.
"This acquisition ranks among the biggest deals ever made for an artist under the age of 70," said Merck Mercuriadis, founder of Hipgnosis Song Management, which manages the music rights company. "At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry."
Hipgnosis now owns a 100% interest in profits made from Bieber's writing and recording credits as well as "neighboring rights," otherwise known as the money made from any public plays of the song in stores, restaurants, etc. His recorded masters, however, will continue to be owned by Universal Music Group in perpetuity.
Bieber's longtime manager, Scooter Braun, also spoke about the catalog sale in a statement. "Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal," the music mogul said.
Rich Fury/Getty Scooter Braun
"For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin's greatness is just beginning," continued Braun, 41.