Justin Bieber near deal to sell music catalog for $200 million: report – Country

Justin Bieber is said to have intent to sell his music portfolio for $200 million.

According to the Wall Street Journal, which first reported on the alleged deal, Bieber’s portfolio is likely to sell the rights to Blackstone-backed Hipgnosis Songs Capital in the coming days. The acquisition has not yet been completed.

The $200 million deal – which will be Hipgnosis’s biggest music rights acquisition to date – will include Bieber’s stake in his music publishing and recording portfolio (all in U.S. dollar).

Both Bieber and Hipgnosis have yet to comment publicly on the reported deal.

Since 2010, Bieber, 28, has released six albums and numerous singles featuring some of the biggest artists in the music industry. Potential deal with Hipgnosis would include Bieber’s biggest hits like Baby, Despacito and Love yourself.

It’s not uncommon for companies to buy catalogs from newer artists, but Hipgnosis has made it a unique practice. In recent years, the company has purchased the music rights to Justin Timberlake, Jack Antonoff, Mark Ronson and Timbaland.

Despite the potential money, it hasn’t been an easy year for Bieber.

In June, the singer postponed part of his Justice World Tour after being diagnosed with Ramsay Hunt syndrome that left half of his face temporarily paralyzed. The tour was originally scheduled for 2020 but has been postponed several times due to COVID-19 and Bieber’s health.

It’s unclear if Bieber’s current state of health has anything to do with this potential deal.

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According to Variety, the music category market peaked in 2020.

That year, Bob Dylan sold his entire 60-year-old catalog to Universal Music Publishing Group for an estimated $300 million. Bruce Springsteen also sold his music rights to Sony for about $500 million.

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