Why did Justin Bieber Cash In His Catalog?
Canadian pop star has been added to the extending list of artists who have given up the rights to their music, but why so early?
At 28, Justin Bieber has become the youngest musician ever to sell 100% of his catalog.
Music management company Hipgnosis announced the ownership of the Canadian popstar’s entire music catalog for $200 million late last month. Even though he hasn’t released any new music recently, I suspect it's a bit too early to put a price tag on his legacy.
Although Rolling Stones claimed Bieber’s sale to be the largest bid yet of his generation, artists who are at this stage in their career and give up the rights to their royalties tend to be much older. They’ve usually slowed down within their career.
Selling more than 290 tracks gives him an opportunity to invest. Over time, the royalties will surpass the original price and $200 million is just the starting point for potentially more revenue in the future.
Many of us “Bielibers” have grown alongside the iconic catalog. It’s sad to know that this career shift easily reminds us that we aren’t as young as we think we are. It’s easy to disregard that our favorite artists growing up now have families and are focusing much more than music.
I can’t blame Bieber for wanting to enjoy the benefits of sacrificing his early life to put out hit after hit, sooner than most musicians. He deserves it.