Justin Bieber Sells Entire Music Catalogue for Over N90 Billion, Fans React: “Worst Deal Ever”
- Justin Bieber has reportedly cashed out on his music publishing and recording catalogue to Hipgnosis Songs Capital
- According to reports circulating on social media, the Canadian singer gave away his life's work for a little over $200 million (N90 Billion)
- Social media users have weighed in on the deal and said Bieber could have earned more for his music
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One of the best-selling artists of all time, Justin Bieber, has reportedly sold his entire music catalogue to Hipgnosis Songs Capital for more than $200 million (N90 billion).
The reports come after weeks of speculation that the multi-award-winning star was in talks to give up his music publishing and recording catalogue to the Blackstone-backed Hipgnosis Songs Capital.
What will happen to Justin Bieber's music after the deal?
Justin Bieber has a career spanning more than a decade and 290 songs including timeless classics like Sorry and Baby under his belt. By selling his music rights, the star gave Hipgnosis his stake in his masters as well as his neighbouring rights — a royalty through which its owner receives a payment every time a song is played publicly, The National reports.
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Justin Bieber joins other stars who sold their music rights
According to EWN, the Baby hitmaker joined the long list of international stars who have also sold their music catalogues to Hipgnosis Songs Capital. Stars like Justin Timberlake and Shakira have also sold their music rights.
Social media users react to the news of Justin Bieber selling his music catalogue
Many Twitter users were not thrilled with the singer's decision to sell his entire music rights for $200 million. Many said he could have made billions with his music.
"Worst deal ever. He could make billions over his lifetime from his music."
"His catalogue generates this revenue in four years on Spotify alone."
Beyoncé earned N125m per minute at Dubai concert
In more entertainment news, Legit.ng reported that Beyoncé's allegedly earned N125m for a Dubai private event.
According to Arabian Business, the singer headlined the grand opening of the lavish hotel Atlantis The Royal. The Spirit hitmaker will be paid $24 million, which is N10 Billion when converted into Naira.
The concert was Beyonce's first live gig in four years as she performed 19 tracks in 85 minutes.