The fund, backed by the investment giant Blackstone, acquired the rights to all 290 songs that Canadian musician Justin Bieber (28) released by the end of 2021. Hipgnosis did not name a purchase price. Informed circles confirmed the AFP news agency but the sum of the equivalent of 185 million francs.
In recent years, numerous music stars have sold the rights to their songs for large sums, including Bob Dylan (81), Bruce Springsteen (73), Sting (71), David Bowie (1947-2016), Shakira (45) and Paul Simon (81). The business is extremely lucrative, partly because of the increasing use of streaming platforms. Justin Bieber was discovered as a teenager on the YouTube video platform and quickly became a superstar. He has now sold more than 150 million records worldwide. He has 82 million listeners a month on the Spotify streaming platform. (AFP/read)
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