Like great music figures, such as Bob Dylan and Bruce Springsteen, among many others, Canadian Justin Bieber has also sold his music catalog to the company Hipgnosis Songs Capital. The cost of the operation has not been disclosed at the moment.
According to US media reports, the deal included the six albums studio album of the 28-year-old performer, as well as his singles and some remixes.
Although none of the parties involved have provided details on the amount of the operation, specialists in the sector They estimated it would be around $200 million.
Although the sale of catalogs has become common in recent months, from the negotiations conducted by figures such as Dylan, Springsteen, Neil Young or Sting; what is striking is that in this case it was created by a young artist who does not have such a vast body of work.
In most cases, this is a surefire way to get an unattainable amount of money through record sales or touring.
However, the Hipgnosis company had already taken over the catalog of younger figures, such as Justin Timberlake and Shakira.
The phenomenon
Streaming has encouraged investors to invest in companies such as Hipgnosis, a London-listed company that receives a cut of the royalties from the songs it owns each time they are played on the radio, broadcast or used in apps and streams, plus a percentage of the revenue from the sale of albums, singles and their use in television commercials and films.
Hipgnosis, which was co-founded by legendary producer Nile Rodgers, It has already grossed $1.9 billion since its launch in 2018.and to date, he’s acquired more than 120 catalogs (including the 42 Kobalt already had, which include hits by Enrique Iglesias, Ricky Martin, Marc Anthony, and Jennifer López), spawning a trend from his own case.
The company recently announced three deals for approximately $150 million for a 50% stake in the rights to The 1,180 Songs of Neil Young; bought ex Fleetwood Mac guitarist’s catalogue.
Thus he reached an agreement with the super producer Jimmy Iovine. Fund for the songs of Hipgnosis disbursed approximately 670 million dollars between March and September 2020 in the acquisition of the rights to over 44,000 songs which also include those of Blondie and Rick James.
But it’s not the only hyperactive music publisher in this market. Last month, Bob Dylan was sold to Universal Music for around $300 millionthe publishing rights to his entire 600-song catalog, including his hits Blowing in the wind Y Knocking on heaven’s doorand it’s the largest music rights deal in decades.
And perennial hit stars like Dolly Parton, who has more than 3,000 songs, included I will Always Love You (Whitney Houston’s 1992 release was a global phenomenon), they’re considering selling their tracks as they near the end of their careers.
Also there are Barry Manilow, Chrissie Hynde (singer, guitarist and songwriter of The Pretenders) and Stevie Nicks, who has sold a majority share of his catalogue. for $100 million to music publisher Primary Wave. And rock band Imagine Dragons, who sold their songs for the same amount as before to Concord Music Publishing in August.
Source: Clarin
