In
recent news released by The Wall Street Journal, it has been disclosed that
Justin Bieber
is selling his music catalog for an amount of 200 million dollars.,
noting that the agreement would be with Hipgnosis Music. This would make him, at 28
years old, the youngest musician to sell the rights to his work.
In most cases, the sale of catalog rights is usually done by artists with a
long career, such as Bob Dylan, Sting or Fleetwood Mac, all of them over 60
years old,
and it has become common practice in recent years because album sales have
dropped and they depend on touring to earn money.
In recent years, Bieber has bailed out on several concerts for various
reasons, including
the pandemic, but it has also been because he just didn’t feel like it.
But this year’s had been due to health issues, but from what he posts on his
Instagram, he’s
still giving himself a life that’s costing him a lot of dollars.
The problem, according to the WSJ, is that out of that $200 million he has
to split a lot of that money among all his collaborators, as he is not someone who
usually writes his songs solo, but with other people.
But according to some sources close to the Canadian star, he is running out
of money because of his daily excesses, which he doesn’t seem to be willing to
decrease, reason why, they assure, he is practically running out of money and this is
causing him problems on a personal level with his wife.
No official agreement has been made yet, but everything indicates that it
will be announced soon, as Bieber needs to have liquidity to fix his financial problems.