Bieber recently arrived two hours late for a concert in London.
The 19-year-old Canadian singer was ordered to a 5 pm conference call by Universal chiefs following the PR fiasco that was his Monday night performance at London's O2, reported Mirror online.
After keeping fans waiting for two hours, with no apparent justification, Bieber was also said to have been less than enthusiastic about a subsequent fan meet 'n' greet.
Bieber's verbal warning came just 12 hours after he rolled in from yet another night of partying.
"He is a huge cash cow for the label and of course they're desperate to keep both him and the fans sweet. His erratic behaviour and antics are not what his impressionable young fans expect of him," the source added.
Bieber begins the European leg of his tour next week and has been told to cut down on partying when he's not performing.
"Justin took the news well and has promised to go back to putting his fans first," the source said.
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