(CelebrityAccess) — Justin Bieber is reportedly in advanced talks with Hipgnosis Songs Capital, Hipgnosis’s partnership with private equity group Blackstone for a catalog sale.
According to the Wall Street Journal, who first reported on the negotiations, the deal is worth about $200 million and covers both Bieber’s recorded music catalog and his publishing.
The proposed deal would likely encompass all of Bieber’s six #1 albums, which are all platinum certified by the RIAA with more than 9 million albums sold.
Blackstone took a stake in Hipgnosis Song Management, which advises Hipgnosis Songs Fund and the two investment companies launched the seperate Hipgnosis Songs Capital, which is privately held and funded with $1 billion in capital to acquire music IP.
The acquisition of Bieber’s catalog would be the latest in a series of high-profile deals for Hipgnosis. Recent acquisitions include the catalog of legendary Canadian songwriter and recording artist Leonard Cohen, as well as the Red Hot Chili Peppers, Neil Young, and an 80% stake in Kenny Chesney’s royalties.
As the Wall Street Journal notes, Bieber’s catalog would be an unusual acquisition for Hipgnosis, which has in the past focused on veteran artists nearing the end of their careers. Bieber, who is 28, would seem to be in the prime of his career but took a hiatus from touring during COVID.
As well, his recent return to the road earlier this year with his Justice World Tour but he was hampered by health issues and ultimately postponed the tour after 49 shows, stating that he needed to prioritize his health.