According to the Wall Street Journal, aggressive market participant Hipgnosis Music has reached an agreement to purchase Justin Bieber’s composition portfolio. If that happens, at age 28, Bieber would have cashed in on his fame earlier than any other major celebrity.
Legacy performers like Bruce Springsteen, Bob Dylan, Sting, Fleetwood Mac, and so on are the norm when it comes to selling catalog rights. All of these folks are above the age of sixty, and they have massive catalogs and estates to organize.
This trend’s rise in popularity may be attributed in part to the fact that record sales have plateaued and the majority of these musicians’ income has traditionally derived from touring. However, the epidemic hampered travel plans. The importance of finding ways to profit from music publishing has so increased.
The epidemic is not the reason for Bieber’s concert cancellations. When he wasn’t feeling a tour, he’d end it early. This year, he had to cancel a global tour due to sickness and then continued to feel unwell, so he had to cancel it again.
Even if he has the potential to earn tens of millions of dollars, Justin Bieber may need a financial lifeline. He has a rather lavish lifestyle for someone of his age (28). Furthermore, he most likely has a sizable payroll consisting of relatives, acquaintances, and other hangers-on.
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According to the Journal, Bieber’s partners are entitled to a share of the deal’s $200 million value. Bieber, in contrast to the aforementioned historical artists, seldom receives credit for sole composing. Each song, from “Love Yourself” to “Peaches,” was written by many people. And, unfortunately, the test of time has not been kind to these tunes’ financial success. They are still too fresh to be reliable. We won’t know the status of this issue until we hear the word “Peaches” in a Dole ad.
Last Lines
The Wall Street Journal claims that the aggressive market player Hipgnosis Music has secured an agreement to acquire Justin Bieber’s composition library. That would make Bieber the youngest prominent star to cash in on their fame at the tender age of 28.
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