Pop icon Justin Bieber has agreed to a $200 million deal with Blackstone-backed Hipgnosis Songs Capital to sell his catalogue shares in music publishing and production, the company said on Tuesday (January 24). This is the latest record-breaking rights deal in the music business.

The deal, which had&nbsp;been speculated for weeks, adds the 28-year-old to the exclusive group of musicians who have lately made money off of their catalogues.

Hipgnosis withheld the financial details of the agreement, but a source&nbsp;familiar with the subject told AFP that it was estimated to be worth $200 million.

Also read |&nbsp;<a href="https://www.wionews.com/entertainment/hailey-bieber-reveals-she-had-ptsd-post-suffering-mini-stroke-last-year-550648">Hailey Bieber reveals she had PTSD post suffering mini-stroke last year</a>

Even though contemporary artists like Justin Timberlake and Shakira have sold significant portions of their works and have agreements with Hipgnosis, the trend&nbsp;has mostly been observed among established musicians like Bob Dylan and Bruce Springsteen.

Younger catalogues are often considered to be riskier, yet Bieber is one of the best-selling artists of all time, and Hipgnosis now has a part in some of the biggest successes of the twenty-first century, including "Baby" and "Sorry."

(With inputs from agencies)

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Pop icon Justin Bieber has agreed to a $200 million deal with Blackstone-backed Hipgnosis Songs Capital to sell his catalogue shares in music publishing and production, the company said on Tuesday (January 24).

Pop icon Justin Bieber has agreed to a $200 million deal with Blackstone-backed Hipgnosis Songs Capital to sell his catalogue shares in music publishing and production, the company said on Tuesday (January 24). This is the latest record-breaking rights deal in the music business. The deal, which had been speculated for weeks, adds the 28-year-old to the exclusive group of musicians who have lately made money off of their catalogues. Hipgnosis withheld the financial details of the agreement, but a source familiar with the subject told AFP that it was estimated to be worth $200 million. Also read | Hailey Bieber reveals she had PTSD post suffering mini-stroke last year Even though contemporary artists like Justin Timberlake and Shakira have sold significant portions of their works and have agreements with Hipgnosis, the trend has mostly been observed among established musicians like Bob Dylan and Bruce Springsteen. Younger catalogues are often considered to be riskier, yet Bieber is one of the best-selling artists of all time, and Hipgnosis now has a part in some of the biggest successes of the twenty-first century, including "Baby" and "Sorry." (With inputs from agencies) WATCH WION LIVE HERE:

Justin Bieber sells music rights to Hipgnosis Songs for $200 million

Warner Music Group's publishing unit has bought late British rock star David Bowie`s entire catalog spanning six decades, including hits such as 'Heroes' and 'Let`s Dance.' 
 
Bowie, who pushed the boundaries of music and his own sanity to produce some of the most innovative songs of his generation, died in 2016 aged 69. 
 
The deal between Bowie's estate and Warner Music includes songs from the 26 studio albums released during his lifetime, as well as the posthumous studio album release 'Toy'.&nbsp; 
 
Warner Music did not disclose the financial terms of the deal in its announcement on Monday, but a person familiar with the matter said the purchase was worth about $250 million. 
 
Bowie`s estate had in September signed a deal that gave Warner Music global rights to the artist`s catalog from 1968 through 2016. 
 
Bowie shot to fame in Britain in 1969 with 'Space Oddity,' whose words he said were inspired by watching Stanley Kubrick’s film '2001: A Space Odyssey' while stoned. 
 
But it was his 1972 portrayal of a doomed bisexual rock envoy from space, 'Ziggy Stardust', that propelled him to global stardom. 
 
The deal for his catalog is the latest in the media rights sector, where companies have sought to boost royalties by purchasing artists' catalogs after the pandemic hit physical revenue streams and delayed release of new recordings. 
Warner Music, home to musicians such as Cardi B, Ed Sheeran and Bruno Mars, has also partnered with popstar Madonna to relaunch her entire catalog over the next few years. 
 
Its deal with Bowie`s estate comes days before the rock star's 75th birth anniversary on Jan. 8.

Warner Music Group's publishing unit has bought late British rock star David Bowie`s entire catalog spanning six decades, including hits such as 'Heroes' and 'Let`s Dance.

Warner Music Group's publishing unit has bought late British rock star David Bowie`s entire catalog spanning six decades, including hits such as 'Heroes' and 'Let`s Dance.' Bowie, who pushed the boundaries of music and his own sanity to produce some of the most innovative songs of his generation, died in 2016 aged 69. The deal between Bowie's estate and Warner Music includes songs from the 26 studio albums released during his lifetime, as well as the posthumous studio album release 'Toy'. Warner Music did not disclose the financial terms of the deal in its announcement on Monday, but a person familiar with the matter said the purchase was worth about $250 million. Bowie`s estate had in September signed a deal that gave Warner Music global rights to the artist`s catalog from 1968 through 2016. Bowie shot to fame in Britain in 1969 with 'Space Oddity,' whose words he said were inspired by watching Stanley Kubrick’s film '2001: A Space Odyssey' while stoned. But it was his 1972 portrayal of a doomed bisexual rock envoy from space, 'Ziggy Stardust', that propelled him to global stardom. The deal for his catalog is the latest in the media rights sector, where companies have sought to boost royalties by purchasing artists' catalogs after the pandemic hit physical revenue streams and delayed release of new recordings. Warner Music, home to musicians such as Cardi B, Ed Sheeran and Bruno Mars, has also partnered with popstar Madonna to relaunch her entire catalog over the next few years. Its deal with Bowie`s estate comes days before the rock star's 75th birth anniversary on Jan. 8.

Catalog of late rocker David Bowie sold to Warner Music

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Justin Bieber sells music rights to Hipgnosis Songs for $200 million

Catalog of late rocker David Bowie sold to Warner Music