Justin Bieber has sold the rights to his music, in a deal worth $200 million. He sold the rights to his publishing and artist royalties from his song catalog, making the 28-year-old one of the youngest to cash in on his life’s work. This deal was done with Hipgnosis, a music rights investment company.

The Canadian singer is known for many hits including “Baby”, “Sorry”, and “Despacitio”. Bieber has released six studio albums, dozens of singles, and a number of remixes and compilation albums.

Hipgnosis is managed by music mogul, Merck Mercuriadis. He is known for managing many artists including Elton John, Beyonce, and Mary J Blige. His music rights business has spent over $2 billion on music deals since 2018.

Bieber’s longtime manager, Scooter Braun, released a statement after the news was announced. He stated, “Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal,”. He then said, “For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”

Many artists have recently sold their music catalogs including Justin Timberlake and Niel Young. Additionally, Bruce Springsteen closed a deal for his rights and it was sold for a whopping $550 Million. Billboard Editorial Director, Hannah Karp, stated “Many artists at the end of 2021 had rushed to sell their rights before the Biden Administration allowed capital gains taxes to increase”. “Others, particularly artists nearing the end of their careers, opted to sell their rights for estate planning purposes”, Karp said.

Congratulations on your major deal Justin!