Justin Bieber is wrapping up a $200 million music deal. He wants to pivot his music career. This would involve selling the rights to his entire music catalog. Keep on reading to learn more.
Canadian popstar to sell entire music catalog
Per TMZ, Justin Bieber has been shopping around for the highest bidder. So far, that would go to Hipgnosis Songs Capital. Sources told The Wall Street Journal that this could be the highest music acquisition in the company’s history. The deal would include all of Justin’s catalog of music.
Over the span of his career, Justin Bieber released six albums and many singles and collabs. Hipgnosis purchased the rights to Justin Timberlake’s music catalog for $100 million. Both experts and investors agree that younger music comes with not only a hefty price tag but also a higher risk.
It’s smarter for the music company to bid on older music since decades-old music grows in value over time. This means that it could be too soon for Justin Bieber to sell his music. The company would acquire the rights for the composition and songwriting, such as the lyrics and melodies.
The publishing rights aren’t worth as much as the recordings. Still, they can increase in revenue over time. Their value could increase with advertising, movie licensing, and radio play. The company will generate even more revenue every time the songs are used. Similar deals have been reached over the years with streaming services like Apple Music and Spotify increasing the value of their back catalogs.
Per Yahoo! Finance, singer-songwriter Bob Dylan sold his copyrights to Universal Music Group. Bruce Springsteen sold his publishing rights and master recordings to Sony Music. As you can see, this occurs among legends and veteran song artists. It’s uncommon for a new or young artist to sell their music catalog.
Justin Bieber at odds with H&M
On Monday, December 19, Justin Bieber made headlines for his beef with H&M. He took to his Instagram Stories to call out the retailer for selling merchandise that features his image and likeness. However, Justin claims he never signed off on the line. The brand pulled all the products and merchandise that feature his name and likeness from their stores and website.
H&M has denied Justin Bieber’s claims. In a statement, they told People that they have “followed proper approval procedures.” They only pulled the merchandise out of respect for the “Sorry” singer. Justin called the brand “trash” and informed his fans not to buy the accessories and apparel.
What are your thoughts on Justin Bieber wrapping up a $200 million music deal? Do you think it’s too soon? Or, do you think he should jump on it? Sound off below in the comment section.
Check back with TV Shows Ace for more news on Justin Bieber.