Justin Bieber sells the rights to his music for $200 million

Justin Bieber sells the rights to his music for $200 million
Justin Bieber sells the rights to his music for $200 million
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Canadian singer Justin Bieber has sold the rights to his music to Hypgenosis Songs Capital for $200 million, the company and a source familiar with the matter said on Tuesday.

The Wall Street Journal reported last December that the value of the deal was $200 million, which was confirmed by a source familiar with the file on Tuesday.

With this deal, the 28-year-old Bieber has followed the example of a group of artists who recently sold the rights to all their works for hundreds of millions, including Bruce Springsteen and Bob Dylan.

The company specialized in managing music rights, which originally owns the rights to the works of the American band “The Red Hot Chili Peppers”, stated that it “acquired all of Justin Bieber’s shares in copyright (including the author’s rights in execution), master recordings and related rights to all of his works.” The company did not indicate the value of the deal.

Competition has intensified in recent years between investment vehicles such as “Hypgnosis”, “Concord” and “Primary Wave” and major companies in the recording and music production sector such as “Universal Music”.

Investors’ desire to acquire the rights to music works is due to the advent of streaming, which opened up opportunities for an industry that was looking for a new paradigm in the early 2000s.

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More than one artist sold the rights to their work in the last two years to major music industry companies for high sums, including the British singer Sting, who gave up the rights to his entire group as a songwriter to a subsidiary of “Universal Music”, in a deal estimated by US media at about 250 million. dollar.

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Bruce Springsteen, aka “The Boss”, sold in 2021 to “Sony” the copyright and recording rights associated with his entire work for more than $ 550 million, and the Nobel Prize for Literature singer Bob Dylan followed suit, who gave up all his rights as an author to “Universal” in a deal estimated to be Its value is $300 million.

Last September, Justin Bieber announced that he would cut off his world tour and cancel concerts scheduled for it. After revealing in June that he suffers from partial paralysis of his face.

And the international star had stated in a video clip he posted on his Instagram account in June 2022 that he suffers from Ramsey-Hunt syndrome, a rare neurological disease that leads to paralysis on one side of the face, and is caused by a reactivation of the chickenpox virus or shingles (Zona).

At that time, Bieber was forced to cut off his “Justice World Tour” for several weeks, before he revived concerts in Europe, and recently included the prominent “Rock in Rio” festival in the Brazilian city of Rio de Janeiro.

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