But the acquisition of Bieber’s music rights stands out among recent such deals because of Bieber’s age, says Richard Baskind, the head of the music department at the London-based law firm Simons Muirhead Burton. The biggest deals have typically involved older artists who are selling the rights to decades of their life’s work. It’s “less common” for a 28-year-old to do so, Baskind said.
Older artists, who may be on the verge of retiring, also may choose to sell their catalogues to leave their families “a big pile of money” instead of a “complex set of music rights,” Larry Miller, the director of music business at NYU Steinhardt,“For artists, the benefit is clear,” said Cassine Bering, an intellectual-property lawyer at Briffa in Britain.
Under the terms of their agreement, Hipgnosis acquired Bieber’s publishing copyrights. The company also acquired Bieber’s share of the copyright of the “master” recordings — meaning that while Universal Music Group, Bieber’s music label, continues to own the master recordings in perpetuity, any revenue payments that would previously have gone to Bieber will now go to Hipgnosis, according to the company.
He didn't write any of 'his' songs so this is not a surprise at all
I wonder what the Abba back catalogue would be worth ?
Smart move actually. I can't see his music being of immense value in decades to come.
My bet is that nobody will ever remember Justin's music 10 years away from now.
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