24 January 2023 , 18:05
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Justin Bieber has sold his entire music catalogue - featuring songs from his entire 15-year recording career - for a huge $200million (£162million).
The Peaches singer, 28, has sold the rights to his music to Hipgnosis Songs Capital - 15 years after starting his recording career
The more than $200million agreement was announced by the company today after reports emerged last month that the Canadian star was closing in on a deal to sell his music.
The hitmaker, who is worth an estimated $300million, has released six studio albums over the years, along with countless singles and collaborations. He has sold 150million records worldwide, making him one of the most successful recording artists in history.
His 15-year-long career has seen him work with artists such as Nicki Minaj, Post Malone, DJ Khaled, Quavo, Chance the Rapper, Lil Wayne, Ed Sheeran, Ariana Grande and Kehlani.
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Bieber is worth an estimated $300millionAnd now the rights to all those huge songs belong to Hipgnosis, who offer investors the chance to earn royalties from the work of various artists.
The company has previously reached deals with the likes of Barry Manilow and Beyonce but the purchase of Bieber’s catalogue is reportedly the biggest sum the company has ever negotiated.
Justin, who recently hit headlines after a falling out with high street retailer H&M over a collection which featured images of him, follows in the steps of fellow star Justin Timberlake.
The Mirrors hitmaker, 41, reportedly sold his entire song catalogue, worth $100million, to the same company last May.
After the Cry Me A River singer sold his collection, he shared: “I am excited to be partnering with Merck and Hipgnosis – he values artists and their creative work and has always been a strong supporter of songwriters and storytelling.
Justin Timberlake sold his catalogue last year (AFP via Getty Images)“I look forward to entering this next chapter.”
The deal awarded 100% control and ownership over more than 200 songs he has been involved in writing over his 20-year career to the management company.
The founder and CEO of Hipgnosis, Merck Mercuriadis said at the time: “Justin Timberlake is not only one of the most influential artists of the last 20 years but he’s also one of the greatest songwriters of all time.”
The music boss said the deal with the former NSYNC star was the third of 2022 and took over a year to close.