The news was published by the “Wall Street Journal”, noting that the agreement will be made with Hipgnosis Music
Justin Bieber he sold the rights to his songs because he is running out of money to live on. In the last few days, news broke that the famous singer is selling his music catalog asking for 200 million dollars.
The news was published by the “Wall Street Journal”, noting that the agreement will be made with Hipgnosis Music. That would make him, at 28, the youngest musician to sell the rights to his work.
Singer Justin Bieber may be joining the ranks of musicians selling their song rights for hundreds of millions of dollars. https://t.co/Ync1ZwIDO0
— FORTUNE (@FortuneMagazine) December 23, 2022
In general, the sale of catalog rights is usually done by artists with long careers, such as Bob Dylan, Sting, all over 60 years old. It’s something that’s become common in recent years because album sales have fallen and artists make money from touring.
In recent years, Mr Bieber has canceled several concerts for various reasons, including the pandemic, but also because he just didn’t feel like it. This year, he canceled the concerts due to health problems.
The problem, according to the WSJ, is that out of that $200 million he has to split a lot of that money among all his collaborators, since he’s not usually one to write his own songs.
WATCH: Blackstone-backed Hipgnosis Songs Capital nearing a deal to purchase pop star Justin Bieber’s music rights, according to a report in the Wall Street Journal https://t.co/WdabPDlm45 pic.twitter.com/GHBGiElC19
— Reuters (@Reuters) December 22, 2022
But according to some sources close to the Canadian star, he’s running out of money due to his daily excesses, which he doesn’t seem willing to curb, which is why, they claim, he’s basically running out of money and that’s causing him problems in personal level with his wife.
The deal is not yet official, but all indications are that it will be announced soon, as Bieber needs cash to deal with his financial problems.
Justin Bieber vs H&M: The Swedish fast-fashion giant says it has the rights to sell merch with Bieber’s imagery, such as hoodies and t-shirts featuring the lyrics of the song ‘Ghost’ https://t.co/3bhMIRQCGi
— Business Insider (@BusinessInsider) December 23, 2022
Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.
I am Frederick Tuttle, who works in 247 News Agency as an author and mostly cover entertainment news. I have worked in this industry for 10 years and have gained a lot of experience. I am a very hard worker and always strive to get the best out of my work. I am also very passionate about my work and always try to keep up with the latest news and trends.
