The singer Justin Bieber completed the sale of its entire musical catalog for an amount of 200 million dollars, according to a report from the Wall Street Journal Posted on January 24. Now, the rights to the pop icon’s songs belong to the firm Hipgnosis Song Management.
Last December it was revealed that the 28-year-old Canadian was about to sign the million-dollar agreement to transfer his music to Hipgnosis. It’s about a British capital fund focused on the music industryly backed by the investment manager Blackstone, based in New York. The company is valued at about $1 billion and is publicly traded.
The agreement includes all Justin Bieber music released before December 31, 2021. In total they would be more than 290 songs that cover practically all his successes: Baby, boyfriend, sorry, Love Yourself, Ghost and more. The artist and his record company, Universal Music Groupwill retain the artist’s original or master recordings and other copyrights.
The idol of the ‘believers’ was discovered at the beginning of 2007, shortly before his 13th birthday. the executive Scooter braunwho would become his manager, saw him on YouTube and immediately recruited him to become a pop star.
From then until June 2019, Justin Bieber had sold more than 150 million albums worldwide. To this would be added the sales of his most recent productions, changes (2020) and Justice (2021). For this reason, he is listed as one of the best-selling artists of all time.
How much money does Justin Bieber have now?
The interpreter of Yummy He is among the highest paid artists in the world. The specialized portal CelebrityNetWorth He estimates that Justin makes between $50 million and $80 million a year when he’s on tour, adding up all his sources of income.
Bieber adds dollars to his estate for his presentations, royalties, sponsorships, agreements and merchandising, as he has collaborated with brands such as Calvin Klein, Adidas and Walmartamong other.
As an entrepreneur, he owns a clothing brand called Drew Househas his own line of perfumes and saved the restaurant chain from bankruptcy Tim Hortons. In March 2022, it partnered with the Californian company palms to create a line of marijuana cigarettes.
In February 2010, before the success of BabyJustin Bieber had ‘only’ 500 thousand dollars in the bank. By December of that year, the talented 16-year-old boy already had in his account more than 5 million dollars.
From then on, his wealth multiplied exponentially, explains the media. Bieber made his first $100 million in less than 5 years and doubled that number in just one year, surpassing $200 million:
- 2010 – 500 thousand dollars
- 2011 – 5 million
- 2012 – 40 million
- 2013 – 100 million
- 2014 – 200 million
- 2015 – 210 million
- 2016 – 240 million
- 2017 – 250 million
- 2018 – 265 million
- 2019 – 270 million
- 2020 – 280 million
- 2021 – 285 million
- 2022 – 290 million
According to data from CelebrityNetWorth, Justin Bieber began this 2023 with an estimated fortune of 300 million dollars. However, the sale of his music catalog was finalized at the end of January, so that amount would not include the millions he will receive.
Since they haven’t disclosed many details of the transaction, it’s unclear what percentage of the $200 million Hipgnosis paid will go to Bieber.
This is the largest catalog purchase that the investment fund has made to date. It is double the 100 million they paid for the entire discography of Justin Timberlake in early 2022.
But everything indicates that the investment will be worth it. From now on Hipgnosis will receive royalties every time a song by the singer is broadcast on radio and television, or used in series and films. So far they have not specified whether that includes earnings on digital platforms such as YouTube, Spotify and Apple Music.
Mairem Del Rio Addicted to watching series and movies, doing (a little) exercise and changing my hair color. I am also a journalist, with more than 16 years of experience and dedicated 100% to digital media since 2011. I have been from a reporter and community manager, to an editor in various media and agencies. My areas of expertise are as diverse as they are contrasting: entertainment, travel, lifestyle, health, business, and finance. Now I am focused on the entrepreneurial ecosystem, cryptocurrencies, NFTs, metaverses and the promising cannabis industry in Mexico.