Justin Bieber has sold his entire music catalog – featuring songs from his entire 15 year recording career – for a whopping $200million.
The 28-year-old Canadian crooner has sold his music rights to Blackstone-backed Hipgnosis Songs Capital for over $200million the company announced on Tuesday.
Sources also told Variety that Bieber’s songs will continue to be administered by Universal Music where he has been throughout his career.
Oh Baby! Justin Bieber has sold his entire music catalog – featuring songs from his entire 15 year recording career – for a whopping $200million
Veteran: Sources also told Variety that Bieber’s songs will continue to be administered by Universal Music where he has been throughout his career, he is pictured in August 2009
Founder of Hipgnosis Song Management Merck Mercuriadis released a statement on Tuesday about the acquisition which read: ‘The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable.
‘This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone.
‘Scooter Braun has helped him build a magnificent catalog, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.’
This comes just a month after the report that the pop megastar was closing in on a deal to sell his entire music catalog for nearly $200million, reported The Wall Street Journal at the time.
Wow: This comes just a month after the report that the pop megastar was closing in on a deal to sell his entire music catalog for nearly $200million, reports The Wall Street Journal (pictured August 2022)
At the time, the singer was reportedly in negotiations with Blackstone-backed Hipgnosis Songs Capital in a deal which would include both his publishing and recorded music catalog.
The Sorry hitmaker has released six studio albums over the years, along with scores of singles and collaborations with artists including Ludacris, Nicki Minaj and Jaden Smith.
Hipgnosis Song Management offer investors the chance to earn royalties from the work of a diverse range of artists such as Barry Manilow and Beyonce. The deal with Bieber was be the biggest the company has ever negotiated.
That big deal feeling: Justin looked ecstatic about his recent major monetary gain on an outing with wife Hailey Bieber in New York City on Tuesday
Smells like? Justin donned a pair of white sunglasses similar to what Nirvana frontman Kurt Cobain used to wear
Vibes: The happy husband and wife both rocked baggy trousers
The star is worth an estimated $300million and has sold 150million records worldwide, making him one of the most successful recording artists in history.
Back in May Justin Timberlake sold his entire song catalogue in a deal reportedly worth $100million.
The hitmaker, 41, is partnered with Hipgnosis Song Management according to The Guardian newspaper.
‘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,’ he shared.
Rise to fame: JB shot to fame as a 15-year-old with the release of 2010 single, Baby
New venture: fThe singer, 28, is reportedly in negotiations with Blackstone-backed Hipgnosis Songs Capital in a deal which would include both his publishing and recorded music catalog (pictured 2021)
‘I look forward to entering this next chapter,’ Timberlake added in a press release on Thursday.
The deal between the former NSYNC star and the management company gives them 100 percent control and ownership over his stake in more than 200 songs he has been involved in writing.
The founder and CEO of Hipgnosis, Merck Mercuriadis said: ‘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.’
‘His hit songs including “Cry Me a River”, “Rock Your Body”, “SexyBack”, “My Love”, “What Goes Around… Comes Around”, “Suit & Tie”, “Mirrors” and “Can’t Stop the Feeling” are amongst the most iconic of the period.’
Sold: Justin Timberlake sold his entire music catalogue to Hipgnosis Song Management, in a deal reportedly worth $100 million in May; Pictured on May 9, 2022 in Los Angeles
According to Mercuriadis, the sale took over a year to close, and is the third one finalized by Hipgnosis Song Capital in 2022.
This year the company also snapped up the late singer-songwriter Leonard Cohen’s share of catalogue and 80 per cent of the royalties of country star Kenny Chesney.
Timberlake’s music collection spans over 20 years, and his solo career includes five studio albums and 40 singles.
The singer – who shares sons Phineas, two, and Silas, seven, with his wife Jessica Biel, 40 – first found fam as a member of boy band NSYNC, in 1995.
The band, which consisted of Joey Fatone, 45, JC Chasez, 45, Chris Kirkpatrick, 50, and Lance Bass, 43, broke up in 2002.
NSYNC: The singer first found fame as a member of boy band NSYNC, in 1995; L-R Joey Fatone, JC Chasez, Timberlake, Chris Kirkpatrick, and Lance Bass pictured in 2001