Scooter Braun, Bieber’s longtime manager, said in a statement, “Justin is truly a once-in-a-generation artist, and that’s reflected and recognized in the size of this deal.” I’ve been so grateful to have been part of this journey and I’m so happy for everyone involved today, Justin’s greatness is just beginning.”
A spokesperson for Bieber did not immediately respond to CNN’s request for comment.
Springsteen’s contract was worth about $550 million. Other artists’ catalogs have reportedly sold for amounts close to Bieber’s amount.
Billboard’s editorial director Hannah Karp said last year that many artists were rushing to sell their rights at the end of 2021 before the Biden administration allowed capital gains tax increases. Karp said artists, especially those nearing the end of their careers, chose to sell their rights for estate planning purposes.
But younger artists like Bieber are also starting to sell out: Imagine Dragons sold its catalog to Concord Music Publishing in August. Shakira announced her deal with Hypnosis Her Songs fund earlier this month for her entire catalog, which includes hits like “Hip Don’t Lie,” “Whenever, Wherever,” and “Shewolf.” I persisted.
— CNN’s Chloe Melas contributed to this report