Justin Bieber’s $200 million catalog sale to Hipgnosis, now known under the Recognition Music Group name, is the subject of a new report claiming that the Justice artist and his team were fearing a potential “financial collapse” before the deal was made.
At least, that’s what’s being claimed by TMZ, whose What Happened to Justin Bieber? special recently hit Hulu. In this clip, TMZ founder Harvey Levin is seen discussing the catalog sale, news of which first broke at the top of 2023, as well as looking back on “a call with multiple people.” In that call, Levin claims, the alleged “financial collapse” worries were mentioned.
“Justin’s side acknowledges that in 2022 he was on the verge of, and the words were, ‘financial collapse,’” Levin said in the clip. “That’s why he had to sell his catalog.”
The accompanying report goes on to allege that Scooter Braun, who was managing Bieber at the time, was initially reluctant to pursue such a deal.
To be fair, the practice of selling one’s catalog, or at least a portion of it, isn’t uncommon, especially in recent years. The Recognition Music Group company, for example, counts titles from the following artists among its roster of full or partial acquisitions: Tom DeLonge, Justin Timberlake, Mark Ronson, and more.
In January 2023, Variety and others reported that Bieber’s $200 million deal included shares of the singer’s publishing and recorded catalog, his interest in publishing-related copyrights, and more. These shares stem from Bieber’s back catalog up to the end of 2021. At the time, it was reported that Universal Music Group would still own Bieber’s master recordings.
“For 15 years I have been grateful to witness this journey and today I am happy for all those involved,” Braun said when announcing the deal. “Justin’s greatness is just beginning.”
Braun and Bieber no longer work together, with the former announcing his retirement from music management last year.
Other artists who have made headlines in connection with similar catalog-related deals in recent years include Bob Dylan, Future, Bruce Springsteen, Iggy Azalea, and Zach Bryan.
