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3d ago

TMZ Documentary Reveals Justin Bieber's Financial Collapse Leading to Music Catalog Sale

The pop star sold his catalog for $200 million in December 2022 to avoid financial ruin, despite manager advice to delay for tax benefits.

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Overview

  • Justin Bieber sold his nearly 300-song catalog to Hipgnosis Songs Capital for $200 million after reportedly exhausting $500 million to $1 billion in career earnings.
  • The sale, completed in December 2022, came as Bieber faced significant debts, including $32 million to AEG and HYBE and $9 million to Scooter Braun's company.
  • Manager Scooter Braun advised Bieber to wait until January 2023 to secure tax benefits, but Bieber proceeded with the sale, citing urgent financial needs.
  • The TMZ documentary highlights Bieber's Justice World Tour cancellation in 2022 as a key factor in his financial distress, with missed revenue and high expenses exacerbating his situation.
  • Industry comparisons suggest Bieber's catalog may have been undervalued, with peers like Taylor Swift and Katy Perry securing significantly higher deals for their music rights.