Justin Bieber sells rights to songs for $200m - Adomonline.com

Justin Bieber has sold his share of the rights to his music to Hipgnosis Songs Capital for a reported $200m.

The firm now owns the pop star’s stake in some of the biggest hits of recent years – including “Baby” and “Sorry”.

The move means Hipgnosis will receive a payment every time a song they own part of is played in public.

The company – a $1bn venture between financial giant Blackstone and the British Hipgnosis Song Management – acquired Bieber’s publishing copyrights to his 290-song back catalogue.

In the last two years, music legends Bob Dylan and Bruce Springsteen both sold back catalogue rights to Sony.

The Hipgnosis Songs Fund is building up a catalogue of hit songs – and inviting big institutional investors to share in the proceeds.

The man who founded it, Merck Mercuriadis, previously said hit songs can be “more valuable than gold or oil”.