Justin Bieber is reportedly planning to sell his music rights to Blackstone-backed Hipgnosis Songs Capital
Justin Bieber is reportedly planning to sell his music rights to Blackstone-backed Hipgnosis Songs Capital.
The news was first reported by Wall Street Journal, which claimed that a deal is being closed for a jaw-dropping $200 million, “the largest music-rights acquisition for Hipgnosis to date.”
They also explained that “if a deal is struck, Hipgnosis would collect revenue from Mr. Bieber’s recorded music and songwriting royalty streams.”
Meanwhile, Universal Music Group NV will still have the rights to the singer’s master recordings, or recorded music copyrights.
Reps for Bieber and Hipgnosis have yet to comment on the acquisition of the deal.
Since his debut in 2010, the 28-year-old pop star released six albums and numerous singles featuring some of the biggest artists in the music industry.