Justin Bieber has sold his entire catalog of published music for upward of $200 million to Hipgnosis Songs Capital, the music rights investment company announced on Tuesday, Variety reported.
The deal covers 290 songs — all of Bieber’s songs released before Dec 31, 2021, according to Rolling Stone, including his all-time greatest hits such as “Baby,” “Sorry” and “Love Yourself.” His master recordings will be owned by Universal Music Group in perpetuity.
“Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal,” Bieber’s longtime manager, Scooter Braun, said in a statement, per CNN. “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.”
Bieber is one of many artists who have recently sold their music catalogs. Bob Dylan, Bruce Springsteen, Stevie Nicks, Neil Young, Sting, David Bowie and Justin Timberlake have recently sold their music rights, per CNN. Springsteen sold his catalog for roughly $550 million.
Merck Mercuriadis, the founder of Hipgnosis Music Capital, praised Bieber for his musical success. “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,” he said, per Variety.