Justin Bieber sells his music catalog

Bieber announced Tuesday that he has sold his catalog to music rights investment firm Hypnosis.

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.

According to Billboard, the deal is valued at $200 million. Rolling Stone called it the biggest-selling artist of the Bieber generation.
Bob Dylan, Bruce Springsteen, Neil Young, Stevie Nicks, Justin Timberlake, Sting, and many others have recently sold their royalty rights. Warner Music Group also purchased the late British rock star David Bowie’s entire catalog spanning six decades.

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.

But Taylor Swift has taken the opposite tactic, fighting to maintain creative control, re-recording some of her songs and gaining publishing rights to her music.

— CNN’s Chloe Melas contributed to this report

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