It’s well-known that Canadian singer Justin Bieber is one of the world’s biggest stars, making a fortune from his catchy hits. However, a recent documentary reveals that the singer was on the verge of bankruptcy not too long ago.
American tabloid site TMZ recently released its documentary on Hulu about the pop star, titled “TMZ Investigates: What Happened To Justin Bieber”. In the documentary, a source claimed that Justin was on the verge of “financial collapse” in 2022. Hoping to save himself from the terrible situation, the singer agreed to sell his music catalogue to Hipgnosis Songs Capital for US$200 million (approximately RM854 million).
The 2022 music deal was reportedly one of the biggest music-rights acquisitions in Hipgnosis Songs Capital’s history. With the acquisition, the 31-year-old handed over the rights to his entire publishing and recorded music catalogue that he released before 2021. The catalogue included over 290 titles, including some of Justin’s biggest hits, like “Baby”, “Never Say Never”, and “One Less Lonely Girl”.
According to the TMZ-Hulu documentary, Justin’s manager, Scooter Braun, tried to talk him out of the music deal, urging him to wait until January 2023. Apparently, Scooter wanted to benefit from the singer’s final earnings and give him a tax break. However, Justin shot down the idea and moved forward with the deal in December 2022. The vocalist is also one of the youngest singers to sell their catalogue.
Financial troubles were also allegedly one of the catalysts for Justin to leave Scooter after years of partnership. The same documentary alleged that Justin had owed Scooter millions of dollars following his cancelled “Justice” tour. Scooter’s company, Hybe America, allegedly agreed to help pay for the singer’s debt towards concert promoter AEG Presents as long as Justin repaid them within 10 years. However, the singer failed to repay his debt.
TMZ’s documentary also dives into other parts of Justin’s life, including his mental health, his marriage to Hailey Bieber and his career. The singer’s team has yet to comment on these reports, but what are your thoughts on this?
Sources: TMZ, Variety, Us Magazine
