Justin Bieber is set to sell his music rights to Hipgnosis Songs Capital, according to a report.
The Blackstone-backed fund is in talks to acquire the star’s recorded music and publishing interests, according to the Wall Street Journal.
Bieber has released six studio albums as well as remix albums. He is in the Top 5 artists on Spotify with 79 million monthly listeners, and multiple tracks above a billion streams.
Following any agreement, Universal Music Group would continue to own the recorded music copyrights and administer the publishing.
The potential deal, which would be the biggest single acquisition for Hipgnosis to date, comes at a time when the catalogue market has cooled amid rising interest rates and a peak in prices for huge artists in recent years.
Earlier this year, Hipgnosis Songs Capital acquired the rights to Justin Timberlake’s catalogue in a deal valued at over $100m.
The Blackstone-backed funding vehicle launched in partnership with Hipgnosis Song Management in late 2021 with an initial $1 billion commitment.
There has so far been no comment from Hipgnosis or representatives for Justin Bieber.