Justin Bieber has sold his entire music catalog, Billboard reports. The $200 million sale to Hipgnosis marks the largest rights sale for any artist of the "Ghost" singer's generation. It's also the company's largest acquisition yet.
The sale includes Bieber's publishing, artist royalties from master recordings and neighboring rights in the 290-song catalog, which does include his most recent release, Justice. Despite the sale that routes his share of artist royalties for his masters, the recorded music copyrights will still belong to Universal Music Group in perpetuity, the news outlet reports.
Hipgnosis founder and CEO Merk Mercuriadis said in a statement Bieber is "one of a handful of defining artists of the streaming era that has revitalized the entire music industry, taking a loyal and worldwide audience with him on a journey from teen phenomenon to culturally important artist." He continued, "This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalog... Scooter Braun has helped him build a magnificent catalogue, and it’s a pleasure to welcome Justin and his incredible songs and recordings to the Hipgnosis family."
JB's manager thanked Hipgnosis for its role in the "historic deal":
"When Justin made the decision to make a catalog deal we quickly found the best partner to preserve and grow this amazing legacy was Merck and Hipgnosis. For over a decade now Justin Bieber has entertained us and moved us with some of the biggest songs in the world. I’m so proud of him and all those involved over the years in helping amass this incredible body of work. Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal. 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."
Listen to Justin Bieber's latest album below: