Posted on 01/25/2023 5:55:55 AM PST by Enlightened1
Justin Bieber has sold all his peaches.
The 28 year old pop star becomes the youngest of all music performers to sell the entire rights to his songs. The buyer is Hipgnosis, the very hot firm that has bought out catalogs of much older stars for more money and with more material. Universal Music Group will own Bieber’s master recordings. But all the songs like “Peaches” and “”Love Yourself” will be owned by Hipgnosis, including parts of songs he wrote with other people.
The price is $200 million, which after taxes and paying all the lawyers involved, and maintaining Bieber’s lifestyle, is not a lot.
This deal is surprising because it suggests a couple of things: that Bieber’s touring and recording future are question marks. The singer has cancelled many tours and pieces of tours because of exhaustion, and also because of medical issues like face paralysis. He’s conceded that he suffers from depression.
(Excerpt) Read more at showbiz411.com ...
quote “The price is $200 million, which after taxes and paying all the lawyers involved, and maintaining Bieber’s lifestyle, is not a lot.”
what the hell is the wording coming to when $200 is “not a lot”
When you look at other recent sales like Springsteen ect, I thought he’d get more than that.
million I mean, but left out
Bieber is stuned........................
Think they meant for Bieber?
Taxes, lawyers, agents aren’t free. I bet he is lucky to see even half that.
It's a helluva lot for you and me, but for someone who wants to maintain a mansion in Beverly Hills, apartments in NYC, Paris, and London, and wants to fly a private jet everywhere, $200 million just ain't what it used to be...
i am sure that hipnosys will pick up the legal tabs and bieber will be just fine...
he will be doing all the vaccination pushes for the cdc soon
A hundred million here, a hundred million there, pretty soon you are talking real money.
Is he going to turn his beeber off and gets stuned?
He’ll tour, even if it’s coffee shops. This is what they do.
Even if he only was left with ONE BILLION.
He could put that into a CD or a savings account with zero risk and even at a paltry 3% return earn, $30 million a year in interest alone, without ever touching the original $1 billion.
If your lifestyle is burning through more than $30 million a year, it’s time to reevaluate your choices.
OOOOOOOOOOOOOOOO I read that wrong, I thought it said $200 billion!
LMAO
never mind, too early, need more coffee
He must figure his career is over. I never listened to any o his stuff, but it seems much of his popularity was due to his pretty boy status. But now with his facial paralysis that’s pretty much gone.
Bieber didn’t write most of his music, so his share of the take is going to be smaller per song.
Purely a guess...but I think you’re right on!
Start - 100%
Agent - (10%)
Manager - (15%)
Lawyer - (5%)
Gross - 75%
Lives in FLA? - State Tax (0%)
Fed Tax - (37%)
Net Inc - .75*.63 = 47%
Probably a smart move as his catalog will eventually have diminishing value. AND, any future endeavors he would get paid.
Well played.
This means that a 3% savings account would lose (roughly) 11% in buying power every year
It's time to leave the dollar.
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