One of the best in Hollywood, Justin Bieber, broke world records again with a deal worth hundreds of millions of dollars.
The 28-year-old pop icon is known to have topped the charts with her incredible musical prowess while also winning coveted awards such as Grammys and American Music Awards.
Now, he has closed a deal with an investment company, selling all his music rights for a huge sum of money, making him the first such success in his generation.
Justin Bieber Closes $200 Million Major Music Rights Deal With Hypgnosis
Bieber struck a deal with Hipgnosis Songs Capital to sell 100% of his music catalog, including his royalties from his “master recordings and neighboring rights.”
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Hipgnosis confirmed the news to Billboard, noting that the deal is worth about $200 million, the largest rights sale for any musician of the celebrity’s contemporaries. Additionally, the deal is the investment company’s most significant to date, covering all 290 Bieber titles in its catalog.
The collection includes all of the “Baby” singer’s music released before December 2021, including the 2021 album, as well as his latest “Justice”. It was initially revealed in December that a deal with Bieber worth more than $200 million was in the works.
At the time, Hipgnosis founder and chief executive Merck Mercuriadis sought to “close approximately $500 million in deals” between mid-November and December. However, Mercuriadis remains tight-lipped about the details of the deal although Bieber’s acquisition appears to be part of the deal.
Earlier in 2021, catalog sales featuring deals with legends such as Bruce Springsteen and Paul Simon made headlines, with several major companies such as Blackstone and Apollo Global Management investing in the market.
Later in 2022, Hipgnosis acquired more music rights from several celebrities, including Justin Timberlake, Leonard Cohen, Nile Ridgers, Nelly Furtado, Kenny Chesney and Neil Young. It is important to know that newer catalogs like Bieber’s are seen as small investments, given that they have a limited amount of history to maintain their existing power. This shows that they usually sell for a lower value than the classic ones.
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Still, the “Under the Mistletoe” singer has had significant success since her debut album “My World,” followed by “My World 2.0,” which spawned her chart-topping single “Baby.” Mercuriadis issued a statement about Bieber’s impact on “global culture over the last 14 years,” which he described as “absolutely incredible.” He continued:
“At just 28 years old, he is one of the defining artists of the streaming era who has revitalized the entire music industry, taking loyal and worldwide audiences with him on his journey from teenage phenomenon to culturally significant artist. “
At the same time, Scooter Braun, Brit Award-winning manager of 15 years, recognized his client’s excellence while also crediting Hipgnosis for making the historic deal a success. Weeks before Bieber’s deal closed, The Blast reported details of the sale, naming all six of his studio albums, including singles and remixes, as part of the deal.
It was also noted that while the deal would be an impressive win if successful, placing a stake in music with a low shelf life is more risky. This is likely because people are interested in new songs when they are initially released, with their popularity fading.
And like the Grammy winner, Timberlake struck a deal with Hipgnosis but with a lower value of about $100 million in 2022.
‘10,000 Hours’ Singer Tells Fans Not To Buy Unapproved H&M Bieber-Themed Merchandise
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Since Bieber came into the limelight, he has collaborated with various brands around the world in various fields. However, it seems that he has no relationship with the fashion brand H&M as he called them out not long ago.
As previously reported, the company designed a collection of merchandise consisting of hoodies, tops and phone cases, using the “Peaches” singer’s identity without her permission, prompting her to tell fans not to buy any clothing.
She took to her Insta Story to slam H&M with a statement that read, “I do not approve of any of the merchandise collections they provide at H&M.. all without my permission and approval.”
He added, in all caps, “Smh, I wouldn’t buy it if I were you,” which he repeated in another update and called the merchandise “trash.”
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Source: thtrangdai.edu.vn/en/
