Justin Bieber sells his music catalog - CNN

New York CNN  — 

Justin Bieber has sold the rights to his publishing and creator royalties from his opus catalog, adding himself to a increasing database of popular stars who person inked rights deals.

Bieber sold his catalog to Hipgnosis, the euphony rights concern institution announced Tuesday.

“Justin is genuinely a erstwhile successful a procreation creator and that is reflected and acknowledged by the magnitude of this deal,” Bieber’s longtime manager, Scooter Braun, said successful a statement. “For 15 years I person been grateful to witnesser this travel and contiguous I americium blessed for each those involved. Justin’s greatness is conscionable beginning.”

Bieber’s publicist did not instantly respond to CNN’s petition for comment.

The woody is valued astatine $200 million, according to Billboard. Rolling Stone called the merchantability the largest of immoderate creator of Bieber’s generation.

Bob Dylan, Bruce Springsteen, Neil Young, Stevie Nicks, Justin Timberlake, Sting and galore others person precocious sold the rights to their royalties. Warner Music Group besides purchased precocious British stone prima David Bowie’s full catalog spanning six decades.

Springsteen’s woody was worthy astir $550 million. Other artists’ catalogues person reportedly sold for an magnitude person to Bieber’s haul.

Many artists astatine the extremity of 2021 had rushed to merchantability their rights earlier the Biden Administration allowed superior gains taxes to increase, Hannah Karp, editorial manager astatine Billboard, told CNN past year. Others, peculiarly artists nearing the extremity of the careers, opted to merchantability their rights for property readying purposes, Karp said.

But immoderate younger artists similar Bieber person begun selling, too. Imagine Dragons sold their catalog to Concord Music Publishing successful August. Shakira stuck a woody announced this period with Hipgnosis Songs Fund for her full catalog, which includes hits similar “Hips Don’t Lie,” “Whenever, Wherever,” and “She Wolf.”

But Taylor Swift is taking the other tactic, warring to support originative power and rerecording immoderate of her songs to summation publishing rights to her music.

– CNN’s Chloe Melas contributed to this report