This week, reports have surfaced that Justin Bieber is in talks to join the ranks of Bob Dylan and Bruce Springsteen in selling his music rights. Bieber is reportedly in the process of closing in on a nine-figure deal with Hipgnosis Songs Capital, which would include his recorded-music catalog and other published works.
The catalog would still be owned by Universal Music Group, and such transactions are common in the music industry. Dylan and Springsteen both sold their catalogs in middle-nine-figure deals two years ago.
Bieber's catalog may not have the longevity of some music legends, but his hit songs like "Sorry," "Love Yourself," and "Baby" remain popular with a generation of music fans. If the deal is reached, Bieber could become one of the most profitable recording artists in the business.
The music industry is in a state of flux with deals such as this one – deals that bring together artists from different generations, experiences, and genres. It will be interesting to see how this potential deal plays out and what implications it will have for the industry as a whole.