Justin Bieber sold the rights to his songs because he is running out of money to live on. In the last few days, news broke that the famous singer is selling his music catalog asking for 200 million dollars.
The news was published by the “Wall Street Journal”, noting that the agreement will be made with Hipgnosis Music. That would make him, at 28, the youngest musician to sell the rights to his work.
In general, the sale of catalog rights is usually done by artists with long careers, such as Bob Dylan, Sting, all over 60 years old. It’s something that’s become common in recent years because album sales have fallen and artists make money from touring.
In recent years, Bieber has canceled several concerts for various reasons, including the pandemic, but also because he simply did not feel like it. This year, he canceled the concerts due to health problems.
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, since he’s not usually one to write his own songs.
But according to some sources close to the Canadian star, he’s running out of money due to his daily excesses, which he doesn’t seem willing to curb, which is why, they claim, he’s basically running out of money and that’s causing him problems in personal level with his wife.
The deal is not yet official, but all indications are that it will be announced soon, as Bieber needs cash to deal with his financial problems.
Source: skai.gr
