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Justin Bieber to Sell Entire Music Catalogue for N89.1Billion, Fans Share Mixed Reactions
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Justin Bieber the latest major act to sell music rights in a reported $200 million deal
Justin Bieber will soon complete a $200 million deal to sell his music rights according to reports.
According to The Wall Street Journal, Bieber is negotiating a deal that would value his rights at “about” $200 million with Hipgnosis Songs Capital, a Blackstone-backed investment and music management company.
According to the Journal, the proposed sale includes Justin Bieber’s publishing and recorded music catalogues and would be the largest acquisition for Hipgnosis to date.
WATCH: Blackstone-backed Hipgnosis Songs Capital nearing a deal to purchase pop star Justin Bieber's music rights, according to a report in the Wall Street Journal https://t.co/WdabPDlm45 pic.twitter.com/GHBGiElC19
— Reuters (@Reuters) December 22, 2022
Earlier this year, the company paid an estimated $100 million for Justin Timberlake’s song catalogue rights.
Music publishing includes the copyrights for songwriting and composition, such as lyrics and melodies.
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Publishing rights can nonetheless generate a sizeable amount of money over time through radio play, advertising, movie licencing, and other means, even though they are frequently valued less than real recordings.
The news is the most recent in a string of comparable agreements made by musicians over the years as the value of back catalogues rises thanks to streaming platforms like Spotify (SPOT), Apple (AAPL), and Amazon (AMZN).
According to numerous sources, in a deal worth over $500 million, Bruce Springsteen sold Sony Music both his master recordings and publishing rights in December 2021.
That same year, the Red Hot Chili Peppers reportedly received $150 million for the rights to their song catalogue.
In a deal apparently worth over $300 million, Bob Dylan sold over 600 copyrights to Universal Music Group in 2020. Prior to that, Stevie Nicks reportedly made $100 million on the sale of the majority of her songwriting rights.