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

The firm now owns the pop star’s stake in some of the biggest hits of recent years, including Baby and Sorry.

Bieber, one of the best-selling artists of the 21st Century, joins a growing group of artists who have cashed out on their catalogues.

The move means Hipgnosis will receive a payment every time a song it owns is streamed or used on radio, TV or film.