Justin Bieber reportedly sold $200 million music catalogue due to 2022 financial collapse fears
Justin Bieber's $200 million sale of his music catalogue to Hipgnosis, now called Recognition Music Group, was reportedly driven by fears of a looming 'financial collapse,' according to a new TMZ report featured in the Hulu special What Happened to Justin Bieber?.
TMZ's Harvey Levin revealed that during a call involving several individuals, Bieber's camp acknowledged serious financial concerns. 'Justin's side acknowledges that in 2022 he was on the verge of, and the words were, 'financial collapse,'' Levin stated. 'That's why he had to sell his catalog.'
Despite initial resistance from manager Scooter Braun, the deal went ahead in January 2023. It included publishing and recorded catalogue rights covering Bieber's entire back catalogue up to the end of 2021. Universal Music Group maintained ownership of the master recordings.
Braun, who no longer manages Bieber and has since retired from music management, expressed optimism at the time: 'For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin's greatness is just beginning.'
Selling catalogues has become a strategic move for many top artists amid industry shifts and financial uncertainties. Recognition Music Group has also acquired works from artists like Tom DeLonge, Mark Ronson and Justin Timberlake. Others making similar moves include Bruce Springsteen, Future, Bob Dylan, Iggy Azalea and Zach Bryan.
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