Justin Bieber is a phenomenon in the music industry for a variety of reasons. His passion for the business has paid back in dividends. Bieber recently sold his song catalog for over $200 million.
The 28-year-old artist sold 290 titles that will be released by December 31, 2021, to Hipgnosis Songs Capital. According to Variety, the founder and CEO of Hipgnosis Song Management Merck Mercuriadis spoke about the acquisition. He ranks among the biggest deals ever made for an artist under the age of 70.
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.
Justin Bieber‘s manager Scooter Braun also addressed the sale. He thanked Merck, his entire Hipgnosis team, and all their partners involved for working so hard to make the historic deal happen. Braun mentioned that Justin’s greatness is just beginning.
“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.”
Scoot Braun admitted in an interview from last year that he regretted the way he handled the Taylor Swift catalog acquisition. Hipgnosis also purchased Justin Timberlake’s music catalog last year for about $100 million. Keep an eye on Thirsty for more.
What’s your take on this story? Sound off in the comments.