The deal covers all of the 28-year-old Bieber’s songs recorded before December 31, 2021.
Among the 290 songs, “Baby” and “Sorry” are among the most listened pop songs of recent years.
Under the agreement, when Bieber’s songs are played publicly, royalties must be paid to Hipgnosis Songs Capital.
Hipgnosis Songs Capital was formed by the merger of Blackstone and British Hipgnosis Song Management in 2018.
“Hit songs can be more valuable than gold or oil,” the company’s founder, Merck Mercuriadis, said in a previous statement.
“Justin Bieber’s impact on global culture over the past 14 years is truly remarkable,” said Mercuriadis of the latest agreement.
HIPGNOSIS SONGS CAPITAL ALSO AGREED WITH JUSTIN TIMBERLAKE AND SHAKIRA
Hipgnosis Songs Capital previously had similar deals with Justin Timberlake and Shakira.
The company paid approximately $100 million to Timberlake, and the fee paid to Shakira was not disclosed.
Bob Dylan and Bruce Springsteen are among those who have recently sold the rights to all music records.
Dylan, $400 million from Universal Music Group; Springsteen received $500 million from Sony Music.