Justin Bieber, the pop star known for his music has been revolutionary in the industry. But apart from this, he’s also known for breaking various records because of his talent and popularity.
This time, Beiber has broken the record for selling music rights for the highest amount. Would you like to guess the amount? $50 million? $100 million? Well, you’ll have to think bigger because Justin has sold his music rights for 200 million dollars. Read the article further to know everything about the deal.
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Justin Bieber Breaks Another Record
The entertainment industry literally knelt down in front of Justin Bieber after Wall Street Journal reported that the Canadian pop singer and teenage icon, Justin Bieber will be selling his music rights for a whopping amount of 200 million dollars!
Yes, you read that right, the 28-year-old Justin Bieber has become the youngest to sell catalog rights in history. He will have to share this amount with the collaborators.
The Wall Street Journal has reported that Justin Bieber will be selling his music catalog to Hipgnosis Songs Capital, backed by Blackstone Inc. Even though this is a new record, we don’t think Justin might be pretty happy about it.
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Justin Bieber Might Not Be Happy About It
Catalog rights are generally sold by artists with long careers. Previously Bob Dylan and Sting have been quite famous for doing so. But in recent years, it is quite normal for young artists to sell catalog rights as album sales are not generating the money that they used to do before.
The lack of ch-ching from albums throws artists to depend on tours. Previously covid has been a major enemy to that. All of this is making artists run for alternate money-earning methods and selling catalog rights is quite a good one.
In September 2022, Justin shared the heartbreaking news about the suspension of his Justice World Tour saying that “exhaustion overtook me.” Well, this is not the first time that Beiber has canceled his tour for reasons known best by him.
Justin has canceled many concerts in the past. While some of them were because of his Ramsay Hunt Syndrome, the reason for others is still unknown. People who have been following Justin for a long time have been speculating that canceling tours brought money issues to his doorstep which forced him to sell catalog rights.
By seeing Beiber’s lavish lifestyle and inability to score some dollars in the past, the above-mentioned reason can be true.
