Justin Bieber sells music rights for $200 million

The deal covers all of the 28-year-old Bieber's songs recorded before December 31, 2021.Among the 290 songs are Baby and Sorry, two of the most listened to pop songs of recent years.

Under the agreement, when Bieber's songs are played in public, Hipgnosis Songs Capitala royalties will have to be paid.

Hipgnosis Songs Capital was formed when Blackstone and British Hipgnosis Song Management merged in 2018.The company's founder, Merck Mercuriadis previously said that hit songs can be worth more than gold or oil.

Regarding the latest deal, Mercuriadis said Justin Bieber's impact on global culture over the past 14 years is truly remarkable.

HIPGNOSIS SONGS CAPITAL HAS ALSO AGREED WITH JUSTIN TIMBERLAKE AND SHAKIRA

Hipgnosis Songs Capital has previously made similar deals with Justin Timberlake and Shakira.

The company paid Timberlakee about $100 million, while the fee paid to Shakira was not disclosed.

Among those who have recently sold the publishing rights to all of their music recordings are Bob Dylan and Bruce Springsteen.

Dylan received $400 million from Universal Music Group; Springsteen received $500 million from Sony Music.