Justin Bieber Plans to Sell Music Copyrights for 260 Billion Won

Blackstone Joint Venture 'Hipgnosis Songs Capital' Acquisition Deal
Previously Acquired Copyrights of Mariah Carey, Beyonce, and Others

Pop star Justin Bieber.

Global pop star Justin Bieber is expected to sell the rights to his music catalog to a music copyright investment fund company.

According to Variety and other sources on the 21st (local time), Justin Bieber is reportedly negotiating a deal to sell the rights and copyrights to his music revenue to 'Hipgnosis Songs Capital' for $200 million (approximately 260 billion KRW) in a lump sum.

Bieber, who officially debuted in 2009, includes worldwide hit songs from the past 15 years such as "Sorry," "Love Yourself," and "Baby" in the transaction list. He has released six full-length studio albums from 2010 to 2021, with eight songs reaching number one on the Billboard singles chart.

'Hipgnosis Songs Capital,' which is currently conducting the deal, was established last year after Hipgnosis received a $1 billion (approximately 1.3 trillion KRW) investment from Blackstone, the world's largest private equity firm.

Earlier this year, the company also acquired the music copyrights of Justin Timberlake for $100 million (approximately 130 billion KRW). Hipgnosis, which joined forces with Blackstone, is a UK-listed company founded in 2018 by Merck Mercuriadis, who has managed artists such as Beyonc?, Elton John, Guns N' Roses, and Iron Maiden.

Since its establishment, the company has spent $1.75 billion (approximately 2.2435 trillion KRW) over three years purchasing copyrights for about 60,000 songs by pop stars including Neil Young, Mariah Carey, and Beyonc?.

The sale of music copyrights by famous pop stars has been actively taking place recently. Bob Dylan (81), the legendary American singer-songwriter and Nobel laureate in Literature, sold the recording copyrights for all his recorded songs and future new songs to Sony Music Entertainment last year for about 240 billion KRW. Earlier, at the end of 2020, he transferred the copyrights related to the melodies and lyrics of his music to Universal Music for about 359.3 billion KRW.

Also, Bruce Springsteen (73) signed a contract last December to transfer his music rights to Sony Music for $550 million (approximately 654.5 billion KRW). At that time, Springsteen said, "Over the past 50 years, Sony Music has respected me as an artist and as a human being. I am deeply moved that my musical legacy will continue to be cared for by a company and people I trust."

Compared to them, Bieber is relatively young at 28 years old this year. The contract is expected to be finalized soon, and if successful, it will be the largest music copyright acquisition for 'Hipgnosis Songs Capital' to date.

This content was produced with the assistance of AI translation services.