Entertainment

Justin Bieber sells copyright for R $ 1 billion

Photo: Getty Images/Joseph Okpako

Photo: Getty Images/Joseph Okpako

Justin Bieber performing at the Sziget Festival in Hungary

the star Justin bieber sold the Copyright from your songs to Hipgnosis Songs Capital, a British music investment and management company. The deal, announced by the company yesterday (23), was valued at over $200 million (about RS 1 billionat the current quotation).

Read more: Hailey Bieber wants to show the beauty of her entrepreneurial face

SUMMARY

● Hipgnosis acquired 100% of the publishing rights, original recordings and related rights to the 290 songs released before December 31, 2021.

● Recorded music will continue to be managed by Universal Music Group.

● According to the Wall Street Journal, The deal is the biggest acquisition of music copyrights in the history of Hipgnosis, which bought the rights to Justin Timberlake’s songs last year for $100 million.

IMPORTANT INFORMATION

Justin Bieber’s longtime manager, Scooter Braun, said: “I’m so proud of him and everyone involved who, over the years, have helped to amass this amazing body of work. Justin truly is a once-in-a-generation artist, and that is reflected and recognized by the magnitude of this deal.”

Braun acquired Taylor Swift’s original recordings and sold them to Shamrock Capital in 2020, deals Swift claimed she was cut from.

BIEBER’S CAREER

Bieber was discovered by Braun through YouTube in 2007. In 2009, he released his first single, “One Time”, which catapulted him to instant stardom. His first album, “My World 2.0”, was released in 2010. Since then, he has released six studio albums, including 2021’s “Justice”. Bieber has been nominated for 23 Grammy Awards and has won two. Last year, he revealed he was battling Ramsay-Hunt Syndrome, a reaction to a virus that caused partial paralysis in his face. In September, the singer canceled the remainder of his Justice World Tour, saying he needs to “make health a priority”.

NOT ALONE

Bieber is one of many music stars who have sold the rights to their songs in recent years. doctor Dre is reportedly in the process of selling some revenue streams and music assets in separate deals to Shamrock Holdings and Universal Music Group. Primary Wave Music acquired the rights to two members of The Doors. Warner Music Group acquired the rights to the recorded songs and YES revenue streams.

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