Canadian singer Justin Bieber sold the rights to his music catalog to the company "Hypgnosis" (Hipgnosis) for 200 million dollars, reported AFP.

He is another of the many artists such as Bob Dylan, Bruce Springsteen, Tina Turner, Neil Young, who part with their lucrative repertoire.

"Hypnosis" is a British company specializing in the management of music funds.

They already have Leonard Cohen, Shakira, Red Hot Chili Peppers in their basket. 

Hypnosis has acquired Justin Bieber's entire interest in his publishing rights (including copyright), master recordings and related rights to his entire catalog," the company announced, although it did not specify the amount of the deal.

How will Justin Bieber make $200 million with a snap of his fingers?

Bieber's repertoire includes more than 290 songs released before December 31, 2021, including his biggest hits "Baby," "Sorry" and "Love Yourself," for which Hypnosis gets the rights when the songs are distributed.

In December, the Wall Street Journal reported a sum of about $200 million, which was confirmed to AFP on Tuesday by a source familiar with the matter. 

According to another source, who confirmed Variety's report, Universal will continue to manage the singer's catalog from "My World 2.0" in 2010 to "Justice" in 2021. The music giant also retains the recording rights to tracks (or master rights), the same source specifies.

Justin Bieber, who suffers from facial paralysis, has again canceled his concerts

"Justin Bieber's influence on global culture over the past 14 years has been extraordinary," said Hypnosis founder and CEO Merck Mercuriadis, Elton John's former manager.

Six of Justin Bieber's albums have been certified platinum (one million copies sold) or multi-platinum (several million copies).

It has over 30 billion listens on Spotify, adds BTA.

Justin Bieber