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IOL News
16-05-2025
- Entertainment
- IOL News
Justin Bieber's $200 million music catalogue sale: a tune-up for financial woes
A new TMZ document delves deeper into Justin Bieber's ongoing financial woes. Image: Instagram Justin Bieber has been all over the headlines lately, and his social media behaviour has also been pretty wild. He has been going through a lot, and now reports are letting fans in on what has been going on behind the scenes. A new TMZ documentary, 'TMZ Investigates: What Happened to Justin Bieber?', reveals that Bieber's financial woes stem from a combination of financial mismanagement, legal disputes, and cancelled tours, leaving him in a shaky financial spot. Bieber's relationship with manager Scooter Braun reportedly turned sour over financial issues after his 2022 'Justice' world tour was cancelled due to health problems, specifically his diagnosis with Ramsay Hunt syndrome, which caused facial paralysis. During his world tour, Bieber was set to perform at Cape Town's DHL Stadium on September 28 and Johannesburg's FNB Stadium on October 1. The tour is named after his 2021 hit album, 'Justice'. The Canadian pop star sold the rights to his music catalogue for around $200 million (more than R3.5 billion) in December, trying to get some funds back. His manager, Braun, apparently advised him to wait until January for tax benefits, but Bieber went ahead with the sale anyway. A dispute with Braun and HYBE, the parent company of Braun's management firm, has also been ongoing, with differing claims about management fees. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Bieber's team asserts that Braun was overpaid by $26 million (over R460 million), while HYBE America's audit suggests Bieber owes Braun $8.8 million (approximately R159 million) in unpaid compensation. In the midst of these financial challenges, the sale of his music catalogue has raised questions. His team maintains that this was a strategic move for long-term financial security. However, the circumstances surrounding the sale have sparked questions. Additionally, Bieber was previously hit with a $380,000 (around R7 million) bill for unpaid property taxes on his $16.6 million (over R290 million) Coachella Valley home. Amidst these financial disputes, Bieber is reportedly considering legal action against his former financial managers, including Braun and HYBE. Bieber's representatives have denied allegations of financial distress, describing the rumours as baseless and misleading. They claim his financial status is stable and attribute negative portrayals to attempts to tarnish his image. The 'Peaches' hitmaker is the youngest musician to sell their music catalogue.
Hindustan Times
15-05-2025
- Entertainment
- Hindustan Times
'Broke' Justin Bieber sold his music catalog for $200 million to survive ‘financial collapse': Report
Singer Justin Bieber has been in the limelight for quite some time now- sometimes for his erratic behaviour on social media, rumours about marital trouble and issues with wife Hailey Bieber, and even on the verge of being broke. A new report from TMZ has now disclosed that the singer had to sell the rights to his music to escape a financial crisis. (Also read: Justin Bieber breaks silence on divorce rumours with Hailey Beiber, health issues: 'I am flawed and God forgave me') The report adds that sources close to the singer have said that Justin was on the verge of a 'financial collapse' in 2022. The situation became so crucial that he had to sell the rights of his music to recover. His former manager Scooter Braun was against this idea, adds the report. The sources say, 'Justin's manager Scooter Braun tried to tell him it was a bad idea to sell so early in his career, and to at least wait until January 2023 to get a tax break.' But Justin did not want to wait any longer and decided to sell it at the end of the year. Justin is the youngest singer to have sold his music catalog. These revelations are being made through the new documentary 'TMZ Investigates: What Happened to Justin Bieber'. Justin was discovered by Scooter Braun at 13 years old when the music manager and executive found him on YouTube. They worked together for almost a decade before parting ways in 2023. Last month, Justin had shared a reflective and emotional message through his Instagram Stories on online attention to his personal life. He wrote, 'Every day I wake up thinking maybe I am too flawed for God to utilise me in this beautiful story of life. Yet God uses me (flaws and all) everyday. The same way he uses you. Our life is significant. God has a plan for us. Nothing disqualifies us from experiencing God's good plans for our life. I am choosing today to allow God's love and grace to shape my day and give me perspective and not make my day about trying to prove myself. Join me if you want.'
