Justin Bieber sell rights to songs for $200M.

 Justin Bieber sell rights to songs for $200M.

•  Justin Bieber has reportedly sold his share of the rights to his music to Hipgnosis Songs Capital for $200 million (£162 million).

• The firm now owns a stake in some of the pop star's biggest hits in recent years, including Baby and Sorry.

• Bieber, one of the best-selling artists of the twenty-first century, joins a growing list of artists who have profited from their catalogues.

• Hipgnosis will now be paid every time a song it owns is streamed or used on radio, television, or film.

• The $1 billion venture between financial behemoth Blackstone and British Hipgnosis Song Management acquired Bieber's publishing copyrights to his 290-song back catalogue.

• It has also acquired his share of his songs' original master recordings.

• This includes any music he releases before December 31, 2021.

• Hipgnosis has not disclosed the terms of the transaction, but a source told AFP that it was worth around $200 million.

• Artists are increasingly selling stakes in their work to music funds, a trend that is more prevalent among older artists. Bob Dylan and Bruce Springsteen both sold back catalogue rights to Sony in the last two years.