According to reports, Justin Bieber, a Canadian pop artist, is in negotiations to sell his music rights to Hipgnosis Songs Capital, which is financed by Blackstone Inc. The potential deal includes his interest in both his publishing and recorded music catalogue.
According to information provided to the Wall Street Journal on Wednesday by sources familiar with the situation, Hipgnosis intends to purchase Justin’s song catalogues in order to make money when those songs are streamed online, used in films or advertised.
However, the negotiations and the contract have not yet been finalised, according to reports. Additionally, there have been no public announcements to date.
Hipgnosis and Bieber haven’t responded to requests for comment.
Interestingly, Blackstone and Hipgnosis Song Management Ltd announced in October that they will be investing about $1 billion to acquire music rights and manage catalogues.
Pop artist Justin Timberlake sold the rights to his songs, including hit tracks like ‘Cry Me A River’ and ‘Rock Your Body’, to Hipgnosis Song Management in May.
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