Justin Bieber is selling the rights to his music catalog for $200 million

Canadian musician Justin Bieber sold the rights to his music catalog to Hipgnosis for $200 million (about 184 million euros), following in the footsteps of artists like Bob Dylan or Bruce Springsteen.

So British music fund manager Hipgnosis has added the 28-year-old music star to a list already packed with artists like Leonard Cohen, Shakira or the Red Hot Chili Peppers.

The agreement includes more than 290 songs released by the end of 2021 by the Canadian artist, including the hits “Baby”, “Sorry” and “Love Yourself”, the British company said in a statement.

Although the company has not disclosed the amounts involved in the business, several outlets such as Billboard, Rolling Stone or The Wall Street Journal have reported that it is around $200 million.

A source close to the trial confirmed the figure to Agence France-Presse (AFP).

To date, Bieber has released six studio albums, as well as several compilation albums, as well as dozens of singles and collaborations with other artists.

“Justin Bieber’s impact on world culture over the past 14 years has been exceptional,” said Hipgnosis founder and CEO Merck Mercuriadis, Elton John’s former manager.

Justin Bieber has over 30 billion “streams” on the Spotify platform.

The deal comes after a difficult 2022 for Bieber, fueled by health issues that caused the Canadian to cancel part of his tour, including a trip to Portugal.

In June, in a video message to his 260 million followers, the artist already announced that he would be postponing some tour dates due to facial paralysis caused by Ramsay-Hunt syndrome.

The multi-million dollar deal to sell his catalog is quite unusual for a 28 year old artist, as most of these major transactions were done by musicians at the end of their careers and with a consolidated musical legacy.

Bob Dylan, Bruce Springsteen, Neil Young or Sting are some of the stars who have sold the rights to their songs for large sums to various companies in recent years.