Canadian singer Justin Bieber has sold the copyright to all of his songs to British company Hipgnosis Songs Capital. The cost of the transaction amounted to just over 200 million dollars (about 14 billion rubles). Billboard writes about it.
Under the terms of the agreement, Bieber transfers 100% of the copyright to his compositions published before December 31, 2021. The agreement also includes his latest album Justice.
“Justin Bieber’s impact on world culture over the past 14 years has been truly astounding. At 28, he is one of the few defining artists of the streaming era who has reinvigorated the entire music industry, taking a loyal, global audience with him on a journey from teen phenomenon to culturally significant artist,” he said. Merck Mercouriadis, director of Hipgnosis. Song Capital.
Billboard emphasizes that this purchase was one of the largest ever with artists under the age of 70. Last year Justin Timberlake, Nile Rodgers, Kenny Chesney, Neil Young and Nelly Furtado sold the rights to some of their songs to Hipgnosis.
H&M has withdrawn all Justin Bieber merchandise from sale. The musician said that he did not agree with the release of this collection. We talk about it in more detail here.