In the initial days of 2023, the musical world will witness Bieber selling his musical rights to Hipgnosis. The word about this upcoming incident is spreading real quickly. The ‘Sorry’ singer will close the deal of handing over his publishing interests and recording revenue. The ‘Baby’ musical phenomenon is very close to sealing the deal to sell his music rights to Blackstone INC.-backed Hipgnosis Songs. Sources confirmed this yet-to-close deal and the rumors that have been anticipating this occurrence.
Neither Justin nor Hipgnosis has commented on this issue. They have maintained an opaque veil around this matter. Even Universal is also upholding its guards on this matter. And the news has mentioned that the deal might be north of 200 million dollars. Yet the actual number is unclear. The singer is going through a rough time, due to his medical condition. The “Justice” tour, which was originally scheduled to launch in 2020 now has been postponed several times for various reasons. First, it got delayed due to the pandemic and now it was again postponed for his bout with Ramsay Hunt syndrome, a rare virus causing his facial paralysis.
It finally launched in March and it covered most of North America. Yet again the remaining dates of this tour were again postponed for an unspecified time. His fans hope to have the dates shared in 2023. Amid this, the selling music catalog rights news has swelled to a great extent. The world has speculated some incredible deals of selling their musical rights are the last few years. Some seasoned catalogs, like Genesis and Phil Collins, have closed the deal for 300 million.
Earlier this year, the company closed the deal with Justin Timberlake for 100 million dollars and some younger artists as well. Apart from that, the company has the musical catalog of legendary singer-songwriter Leonard Cohen. His 50 years old classics are still relevant and extremely cherished. There is another, more economical perspective to this upcoming incident. Back in 2020 and last year when Bob Dylan and Bruce Springsteen sold their musical rights the market peaked effectively. No solid commitments have been made yet, more news will release as the matter develops.
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