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Justin Bieber, whose hits include “Sorry” and Despacito,” has sold his music publishing and recording catalog shares to Hipgnosis Songs Capita for $200M. Hipgnosis themselves did not confirm the amount, however a source close to the Associated Press confirmed it was $200M.
“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” said Hipgnosis chief Merck Mercuriadis in a statement.
“At only 28 years of age, he is one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist.”
Hipgnosis has also acquired Bieber’s share in the original master recordings of his songs. The deal includes all of his music released before 31 December 2021.
Columbian singer Shakira also sold her 145-song catalogue to Hipgnosis for an undisclosed amount.
“Being a songwriter is an accomplishment that I consider equal to and perhaps even greater than being a singer and an artist,” said Shakira. “At eight years old, long before I sang, I wrote to make sense of the world. I know Hipgnosis will be a great home for my catalogue.”
ARTICLE: PAUL MURDOCH
MANAGING EDITOR: LUKE MOCHERMAN
PHOTO CREDIT: BBC