Justin Bieber has sold his music rights to Blackstone-backed Hipgnosis Songs Capital for north of $200 million, the company has announced.
News of the impending deal, which had been rumored for weeks, was widely reported last month.
The deal includes all of Bieber's publishing and recorded music rights, including his shares of performance and writer's rights, master recordings, and neighbouring rights for his entire repertoire, comprising over 290 titles released before December 31, 2021.
According to Variety, Bieber's songs will continue to be administered by Universal Music, his longtime home.
The acquisition was made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by Blackstone.
Bieber was represented by Scooter Braun at Hybe America, David Bolno at NKSFB, Aaron Rosenberg and Audrey Benoualid at Myman Greenspan Fox Rosenberg Mobasser Younger & Light LLP and Michael Rhodes at Cooley.
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."
