Justin Bieber has sold his share of the rights to his music to Hipgnosis Songs Capital for a reported $200m. This means that the firm now holds his share of credits for hits such as ‘Sorry’ and ‘Baby’ and will receive royalties every time a song is streamed, used on radio, TV or film.
Bieber is one of the best-selling artists of the 21st Century. He joins a growing group of artists who have begun capitalising on the sale of their back catalogue, making his catalogue one of the biggest selling of the artists of his time.
In the past two years, the industry has seen legacy acts such as Bruce Springsteen, Bob Dylan and Tina Turner sell their back catalogue. Now, artists from the 21st century such as Justin Bieber and Iggy Azalea, have begun capitalising on the trend.
