Justin Bieber has given the firm the rights to his music for more than $200 million according to Hipgnosis Songs Capital, which is financed by Blackstone
The upcoming deal’s existence had been extensively disclosed last month after weeks of rumors.
Bieber’s complete repertoire, which consists of over 290 titles issued before December 31, 2021, is covered by the agreement, encompassing all of his publishing and recorded music rights, as well as his proportionate performance and writer’s rights, master recordings, and neighboring rights.
Variety reports that Bieber’s former label, Universal Music, will continue to manage the distribution of his tracks.
Hipgnosis Songs Capital, a joint venture between Hipgnosis Song Management and Blackstone-managed funds, made the purchase on behalf of the company.
Aaron Rosenberg and Audrey Benoualid of Myman Greenspan Fox Rosenberg Mobasser Younger & Light LLP, David Bolno of NKSFB, Michael Rhodes of Cooley, and Scooter Braun of Hybe America all served as counsel for Bieber.
Braun, CEO of Hybe America and Bieber’s manager of 15 years, said: “I want to thank Merck and his entire Hipgnosis team and all of our partners involved for working so hard to make this historic deal happen. When Justin made the decision to make a catalog deal, we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis. 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.”
Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, said: “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.”
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