Justin Bieber sells music rights for $200 million

Pop star Justin Bieber has sold the rights to his songs to music investment fund Hipgnosis Songs Capital for $200 million. Hipgnosis has announced a deal with the 28-year-old artist that has been rumored for weeks.

The fund, backed by investment giant Blackstone, has acquired the rights to all 290 songs released by the Canadian musician by the end of 2021. Hipgnosis did not name the purchase price, but insiders confirmed to the AFP news agency the amount of $200 million.

Justin Bieber was spotted on YouTube as a teenager and quickly became a superstar. He has now sold over 150 million records worldwide. On the streaming platform Spotify, he has 82 million monthly listeners.