American singer and songwriter Justin Timberlake is one of the world’s bestselling music artists. He has sales of over 88 million records. Recently, the star joined a growing list of musicians such as Sting, Bruce Springsteen and Bob Dylan who parted with their music catalogs.
The Grammy winner, 41, recently signed a deal with Hipgnosis Song Management — a company backed by private-equity firm Blackstone. The deal worth $100 million is for his music catalog.
Justin Timberlake’s Million Dollar Agreement
Justin Timberlake sold his entire song catalog to a Blackstone-backed management company, joining a wave of megastars who are selling the rights to their music for big bucks.
London-based firm Hipgnosis Song Management announced the purchase of all the singer’s copyrights on tracks he wrote or co-wrote – a total of around 200 songs, according to Hipgnosis CEO Merck Mercuriadis.
“Justin Timberlake is not only one of the most influential artists of the last 20 years but he’s also one of the greatest songwriters of all time,” said Merck Mercuriadis. “His hit songs including ‘Cry Me A River,’ ‘Rock Your Body,’ ‘SexyBack,’ ‘My Love,’ ‘What Goes Around… Comes Around,’ ‘Suit & Tie,’ ‘Mirrors’ and ‘Can’t Stop The Feeling’ are amongst the most iconic of the period,” he added.
“Putting this deal together is a complete labor of love,” he added. “I’m happy to welcome them all to the Hipgnosis Family. This is the beginning of what we believe will be an incredible relationship important to us all.”
Justin Is Excited About The Deal
Justin Timberlake shared that he is feeling blessed for “entering this next chapter” of his career. “I am excited to be partnering with Merck and Hipgnosis. He [Mercuriadis] values artists and their creative work and has always been a strong supporter of songwriters and storytelling,” Timberlake said in a statement
“Justin’s incredible catalog will join other amazing works at Hipgnosis which we know will serve as a great steward of his work,” David Lande and Mitch Tenzer of Ziffren Brittenham LLP, Timberlake’s lawyers, said in the press release.
Fans feel this deal is going to be great for Justin Timberlake’s career.
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