Justin Bieber is going to sell his entire catalog of songs for $200 million. This is what the “Wall Street Journal” website reported tonight (Thursday).
According to the report, the 28-year-old Canadian singer is in the advanced stages of negotiations with the British Hypnosis Foundation to sell the distribution rights to all his songs and recordings. The British foundation offers investors to enjoy royalties on their works. It was also reported that this is the largest deal the company has ever negotiated.
Bieber joins a long line of artists, most of them older than him, who have recently made similar deals. Last January, the creator and veteran musician Bob Dylan sold his entire catalog of songs to Sony Music for 300 million dollars. The British singer Sting also made a similar deal with Universal Music for the same amount.
In December of last year it was reported that “The Boss”, Bruce Springsteen, sold his music catalog to Sony Music for an unprecedented amount of 500 million dollars. Earlier this year, Warner Music purchased the music catalog of the late British musician David Bowie for $250 million.
According to the economic websites, Bieber’s fortune before the deal is estimated at 285 million dollars. Last September, he canceled his appearance in Israel, as well as the other performances planned for his Justice World Tour, due to his health condition. He previously appeared twice in Israel – in April 2011 and May 2017.