Reports on a deal worth millions: Justin Bieber probably wants to sell music rights

Aside from an impressive music career, what do Bruce Springsteen, Justin Timberlake and Shakira have in common? They sold the rights to their songs.

Reports on a deal worth millions: Justin Bieber probably wants to sell music rights

Aside from an impressive music career, what do Bruce Springsteen, Justin Timberlake and Shakira have in common? They sold the rights to their songs. Justin Bieber is said to be following suit. It would be a very lucrative business for the singer.

According to a report by the Wall Street Journal, Justin Bieber is also about to sell his music catalog to the company Hipgnosis Songs. The deal is expected to net the singer $200 million. It could be the largest purchase the company has made to date. As "TMZ" reports, it could be about the pop star's entire catalogue, including his six albums, numerous singles and collaborations with other artists.

Bieber would follow a trend that many musicians, whose profits have fallen due to streaming platforms and canceled concerts, have been taking advantage of since the pandemic. Artists such as Bruce Springsteen, Bob Dylan, Stevie Nicks, Shakira, the Red Hot Chili Peppers and Neil Young have sold the rights to their music in recent years.

Justin Timberlake recently sold all rights to his songs to Hipgnosis in May this year. The music catalog is said to include around 200 songs that the singer wrote or co-wrote, including Timberlake's hits "SexyBack", "Can't Stop the Feeling" and "Mirrors." "Justin Timberlake is not only one of the most influential artists of the last 20 years, but also one of the greatest songwriters of all time," said Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, on the deal.

Timberlake said in a statement, "I'm excited to partner with Merck and Hipgnosis - he values ​​artists and their creative work and has always been a strong supporter of songwriting and storytelling. I look forward to beginning this next chapter." Financial details did not emerge from the company's announcement. However, as the "Wall Street Journal" reported at the time, the deal is said to have included around 100 million US dollars (equivalent to around 93 million euros).