Justin Bieber sells his back catalogue for £162m

Justin Bieber has sold his share of the rights to his music for a reported $200m (£162m).

Hipgnosis Songs Capital, which now owns the Canadian’s share of his back catalogue, will now receive a payment any time one of the songs is played in public.

The company have acquired the rights to the 290 songs Bieber released before 31 December 2021, which include the smash hits Baby, Sorry and Love Yourself.

Musicians are increasingly selling stakes in their work to music funds – with stars including Justin Timberlake and Shakira also striking deals with Hipgnosis.

The trend is more common among older artists, with the likes of Bruce Springsteen, Bob Dylan and Paul Simon all recently securing multimillion-dollar deals for their work.