Sexy Back singer Justin Timberlake brokered a deal on May 26 with Hipgnosis Song Management which will add a cool $100 million (ish) to his wealth.
Timberlake’s entire catalogue, including megahits “Cry Me A River”, “Senorita” and “Can’t Stop the Feeling” is now owned by Hipgnsosis Song Management Limited.
The founder and CEO of Hipgnosis, Merck Mercuriadis has managed the likes of Sir Elton John, Guns N’ Roses, Morrissey, Iron Maiden and Beyoncé at certain stages throughout their career and 41 year old Timberlake says he’s “excited to be partnering” with Mercuriadis and the Hipgnosis group. “He values artists and their creative work,” Timberlake explained, “and has always been a strong supporter of songwriters and storytelling. I look forward to entering this next chapter.”
Justin Timberlake Has Sold His Entire Music Catalogue in a $100 Million Deal
Mercuriadis, too, shared a happy statement about the partnership that read, “Putting this deal together has been a complete labor of love. I’m delighted 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.”
Along with a musical catalogue of some 200 songs that Timberlake wrote or co-wrote, his copyright, ownership and the financial interests of the writer and publisher’s share of the star’s public performance income in the future are also now in Hipgnosis’ hands.
Selling their repertoire has become somewhat of a trend lately for music stars with both Shakira and Neil Young selling their catalogues to Hipgnosis Song Management in January.
Like Timberlake, Shakira sold her entire song list (for an undisclosed amount) while Young pocketed an estimated $150 million for just half of his catalogue.
Sony Music Entertainment has also been buying up large, shelling out somewhere between $150 and $200 million for the rights to all of Bob Dylan’s music and a whopping (estimated) $550 million for the songwriting and recording rights to Bruce Springsteen and his umpteen hits.
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