Music star, Justin Timberlake has sold his entire song catalog.
Timberlake sold his music to London-based firm Hipgnosis Song Management, joining a wave of music stars who are selling the rights to their music for millions of dollars.
Hipgnosis Management announced on Thursday, May 26, the purchase of all the singer’s copyrights on tracks he wrote or co-wrote — totalling 200 songs, according to Hipgnosis CEO Merck Mercuriadis.
The songs bought include include “SexyBack,” “Can’t Stop the Feeling” and “Mirrors.”
The music catalogue was bought for a value of $100 million, according to the The Wall Street Journal.
Timberlake has been singing for the last two decades after finding fame in 1995 as a member of boy band phenomenon N-SYNC.
After the group’s success, he launched a solo career that has included five studio albums and 40 singles.
The deal covers Timberlake’s publishing rights only, so only songs that he had a hand in writing are included in the deal.
“They’re looking to be put in a position where they can make music for pure purposes going forward based on what they want to do, as opposed to what they have to do for money.”
“I am excited to be partnering with Merck and Hipgnosis — he values artists and their creative work and has always been a strong supporter of songwriters and storytelling,” said Timberlake in a press release Thursday. “I look forward to entering this next chapter.”
According to Mercuriadis, the music catalogue sale took over a year to close.
He now joins the likes of Bob Dylan, Bruce Springsteen, Neil Young and Stevie Nicks as artistes who have sold their life’s works for instant cash.
The Chainsmokers, an electronic music hit maker duo, sold their catalog to Hipgnosis in 2019, and Shakira struck a deal with Hipgnosis in January.
“In the case of those younger songwriters, they’re looking to de-risk their future,” Mercuriadis told CNN Business.
