AceShowbiz - Justin Bieber seemingly had some life-changing circumstances that might have shaped his decision to sell his entire music catalog. If a new report is to be believed, the Canadian pop star sold his 291-song catalog for a whopping $200 million to help cover the money he owes due to his canceled "Justice" world tour.
On Wednesday, January 25, Trapital founder Dan Runcie tweeted, "Bieber's only 28. He's one of the youngest to sell. There's a case to make that he can sell high now and still has a full career ahead."
"On the flip side, other young artists are holding. They feel no rush, still make hit albums, and can sell for more in the future if they want," he added. "But a few sources told me that Justin Bieber needed liquidity. He canceled/postponed recent tours, not just due to COVID [but also his battle with Ramsay Hunt Syndrome]. His stadium tour was downgraded to arenas due to low ticket sales. Others were canceled for health reasons. This cash can help cover the tour money owed."
Dan went on to give an example of Dr. Dre's $200 million music asset sale. "Artists choose to buy/sell their music assets for many reasons. Some have other financial obligations, others want to build wealth, and others want an asset to pass down. It's a complex decision," he explained.
Justin officially sold his catalog on Tuesday. The sale includes Justin's six studio albums, "My World 2.0", "Under the Mistletoe", "Believe", "Purpose", "Changes" and "Justice" and other projects including "My World" and "Journals" as well as the hit singles "Baby", "Boyfriend", "What Do You Mean?" "Sorry", "Love Yourself", "Yummy" "Holy" and "Peaches", among others.
Of the catalog sale, the Grammy-winning crooner's longtime manager, Scooter Braun, said in a statement, "Justin is truly a once-in-a-generation artist and that is reflected and acknowledged by the magnitude of this deal." The 41-year-old music mogul continued gushing over his artist, "For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin's greatness is just beginning."
Following the catalog sale, Justin celebrated it with his wife Hailey Baldwin at the exclusive New York City restaurant Carbone. This marks the very first time the couple went back to the Italian eatery after they're denied a table seven months ago.
Back in June, Justin and Hailey were famously turned away from Carbone, which website tells users, "Sorry, we don't currently have any tables available," on practically every date selected 30 days out, after they showed up unannounced and without a reservation.