On Wednesday, Justin Bieber made music industry history with his reported $200 million sale of his entire song catalog to music investment and song management firm, Hipgnosis Songs Capital. Bieber joins a select group of other big-name stars who have sold the rights to their song catalogs for large sums.
The 290 songs in Bieber’s catalog span six studio albums and have sold over 150 million records worldwide. His hits, such as “Never Say Never” and “Love Yourself”, have resonated with fans around the globe, which is likely what led to the record-breaking deal.
The sale of Bieber’s catalog is an example of the potential value of a musician's song catalog. Artists can monetize their work in many ways, from when their song is used in a movie to when their songs are sold, distributed, or streamed. Selling the rights to their song catalog can be a way for artists to capitalize on their work and generate income long after they have stopped performing.
Bruce Springsteen, Paul Simon, David Bowie, Neil Young, Justin Timberlake, and Stevie Nicks are some of the other major artists who have sold the rights to their song catalogs for large sums. Bieber’s deal is a testament to his success and impact on the music industry over the past decade.