The talented Pop star, Justin Bieber is close to selling off his music catalogue. In a deal worth about two hundred million dollars ($200M) JB is reportedly willing to sell his music rights. Blackstone-backed Hipgnosis Songs Capital is said to carry out this acquisition, the Wall Street Journal reported on Wednesday.
Additionally, the potential deal is reported to include the Canadian artiste’s interest in both his publishing and recorded music catalogue.
The big cheque transaction with Hipgnosis Songs Capital is going to be the most expensive music-rights acquisition in the company’s history.
The parties involved in this incoming deal should reach an agreement at the end of the year. If that happens, it will be an indication of a cool-down in the music catalogue market.
Hipgnosis are no stranger to the world of acquisitions. The company reportedly bought catalogue rights to Justin Timberlake’s catalogue earlier this year for a hundred million US dollars ($100M). It is in the same vein Hipgnosis are reportedly trying to buy the rights to Justin Bieber Music Catalogue.
Sting reportedly sold to UMPG for an estimated three hundred and sixty million dollars ($360M). Genesis also sold a package deal to Concord for around three hundred and fifty million dollars ($350M). Meanwhile, David Bowie had his estate sold his publishing catalogue to Warner Chappell for two hundred and fifty million dollars ($250M). And many more deals in the last twelve (12) months for mind-blowing prices. Without a doubt 2022 has been a rather quieter year in comparison to the sizzling previous years.
JB’s catalogues which is slightly a decade old. Catalogues that young are riskier investments than those that have been around for more decades, and stood the test of time in that run. They usually do not generate much as a consequence. Noteworthy is that these younger song collections are often where Hipgnosis chooses to invest its capital.
