Bieber has sold his share of the rights to his music to hipgnosis songs capital for a reported $200m. this deal was announced on tuesday, and it will give hipgnosis the right to collect royalties every time one of their owned songs is streamed or used on radio, tv or film. bieber is one of the best-selling artists of the 21st century and joins a growing group of artists who have cashed out on their catalogues, including bob dylan, bruce springsteen and justin timberlake.
Venture between blackstone and the british hipgnosis song management acquired bieber’s publishing copyrights to his 290-song back catalogue, as well as his share in the original master recordings of his songs. this transaction took place on the london stock exchange, where merck mercuriadis launched a fund called hipgnosis songs capital to invest in music rights.
Us music streaming market is continuing to expand, and this will result in increased income for hipgnosis. bieber’s music is an example of the potential of music rights, as 13 of his songs have achieved more than a billion streams on streaming platforms like youtube and spotify. royalties from bieber’s songs will continue to pour in for years, as bieber’s audience is still relatively young. merckuradis has expressed his disappointment about the situation, but remains confident in the long-term potential of the company. hipgnosis’ share price increased by 1.6% following the announcement of justin bieber’s acquisition.
https://www.bbc.co.uk/news/entertainment-arts-64394448?at_medium=RSS&at_campaign=KARANGA
