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Justin Bieber sells his back catalogue for a HUGE sum of money

Justin Bieber has sold his share of the rights to his music for a reported $200 million.

Hipgnosis Songs Capital have acquired the rights to the 290 songs he released before December 31, 2021 – including his debut single Baby.

The sale means the company will now receive a payment any time one of the songs is played in public.

The Hipgnosis Songs Fund is a $1billion venture between Hipgnosis Song Management and the financial firm Blackstone.

A host of well-known musicians have sold major stakes in their back catalogue in recent years, including the likes of Justin Timberlake, Shakira, and Bruce Springsteen.

According to Merck Mercuriadis, who founded the Hipgnosis Songs Fund, hit songs can be “more valuable than gold or oil”.

Speaking about their deal with Justin, he said: “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable.

“At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist.”

Justin’s longtime manager Scooter Braun added: “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.”

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