Bieber Sells His Music Rights
By Andrea Cooper
25 January 2023
Justin Bieber the crooner of major hits has decided to sell the music rights to Hipgnosis Songs Capital for a reported $200m (£162m). Bieber like other stars has cashed out on the songs. This means each time Bieber's music is played anywhere the amount goes to Hipgnosis. Bieber's music released before 31 December 2021 has been acquired.
Music Rights Story
Many artists are now selling their stakes to music funds. In this case, Hipgnosis is a music fund or a music bank that takes your asset (music) and pays you in cash. However, with this sale, you lose the right to any money value creation from that asset! Justin Timberlake and Leonard Cohen have already made such deals. However, this trend was more common in senior musicians. It is just a financial move of net present value and making your money right now and using it somewhere else maybe bitcoin or production!