Justin Bieber is reportedly joining a growing number of artists who are selling the rights to their music catalogs, and he stands to double his net worth from the potential deal.
According to TMZ, the singer is actively looking to seal a deal to sell off his publishing rights to the tune of $200 million. He’s apparently still negotiating with Hipgnosis Songs Capital, but this could easily be the most expensive acquisition in the company’s history.
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The pop singer – whose huge career spans over a decade, which includes six albums – is worth a reported $285 million.
If he gets a full $200 million for selling the publishing rights, then Justin could easily be worth half a billion dollars.
Hipgnosis Songs Capital has proven it’s not afraid to drop some serious cash on a music catalog acquisition. The company bought the rights to Justin Timberlake’s catalog earlier this year for a cool $100 million.
Another artist who sold their music catalog this year was Iggy Azalea. It’s unknown how much the deal was worth, but reports claim it was easily an eight-figure sale.
The rapper defended her decision on Twitter. “I sold a portion of my catalog to who I wanted, for an amount that means I don’t have to work another day in my life,” she wrote. “I love y’all down but the masters conversation is a little beyond most of your understanding of business.”
Iggy previously said in 2021 that she was planning to step away from music to focus on other projects. She reiterated this in her statement announcing the sale, explaining that she’s excited to focus on new projects.
“I have a larger business I want to invest in,” she wrote, with many fans assuming she referring to her record label, Bad Dreams, that she founded in 2019 after years of conflict with her former record labels.
The rapper also promised to release a new project sometime next year.
Perhaps one of the biggest song catalog acquisitions was made in 2021, when Bruce Springsteen sold his publishing rights for a cool $500 million.
But not every artist is interested in selling off their catalog to the highest bidder. One musician who swears she’ll never do it is Madonna. “They’re my songs. Ownership is everything isn’t it?” the pop star said earlier this year, adding she’s looking for “fun ways” to re-introduce her older music to the new generation.
Sources: TMZ, Wealthy Gorilla,
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