Justin Bieber has sold his music rights to Blackstone-backed Hipgnosis Songs Capital for more than $200 million, according to the corporation.
The imminent deal, which had been anticipated for weeks, was widely publicized last month.
The agreement covers all of Bieber’s published and recorded music rights, including his share of performance and writer’s rights, master recordings, and adjacent rights for his complete repertoire, which comprises over 290 items issued before December 31, 2021.
According to Variety, Bieber’s music will be managed by Universal Music, his longstanding label.
The purchase was undertaken on behalf of Hipgnosis Songs Capital, a collaboration between Hipgnosis Song Management and funds controlled by Blackstone.
Bieber was represented by David Bolno at NKSFB, Scooter Braun at Hybe America, Aaron Rosenberg and Audrey Benoualid at Myman Greenspan Fox Rosenberg Mobasser Younger & Light LLP and Michael Rhodes at Cooley.
Braun, the CEO of Hybe America and Justin Bieber’s longtime manager 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 catalogue 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.”
Founder and CEO of Hipgnosis Song Management, Merck Mercuriadis 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 catalogue that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone. Scooter Braun has helped him build a magnificent catalogue, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family.”