According to the Wall Street Journal, Justin Bieber is reportedly close to a deal to sell his entire music catalog for $200 million.
Hipgnosis Capital is in talks with the Canadian pop star to facilitate one of the largest music-rights acquisitions in the firm’s history. All of his music, including singles and collaborative efforts, would be included in the contract, as he has released six studio albums and several other collections of songs.
Earlier this year, the same company paid $100 million for the catalog rights to Justin Timberlake’s discography. According to Variety, in March, Hipgnosis purchased the rights to perform and distribute Leonard Cohen’s song catalog.
The terms of the deal were not disclosed. This purchase was made with funds from the Hipgnosis Songs Capital ICAV fund, which was established in 2021 with an initial investment of about $1 billion and is backed by the investment firm Blackstone.
Bieber is a lot younger than most artists who are selling their back catalog.
Bieber has been vocal in his disapproval of the new H&M line that features his likeness ever since it was announced earlier this week. In a now-deleted Instagram Stories post, he said, “I didn’t approve any of the merchandise collection that they put up at H&M.” Nothing was done with my knowledge or consent. Really, if I were you, I wouldn’t buy that.
He called the stuff that was supposedly illegal “trash” and told his followers not to buy it. The store says that the line was licensed properly and that all of the items were put through “approval procedures” before going on sale. The items can no longer be purchased from the H&M online store.