Justin Timberlake Sells His Entire Music Catalog!

The Big Apple (CNN Business) Justin Timberlake has joined a growing list of recent megastars who have sold the rights to their music for large sums of money, selling his entire song catalog to a Blackstone-backed management company.

“Around 200 songs” are included in the deal announced by Hipgnosis Song Management, a London-based firm, according to CEO Merck Mercuriadis of Hipgnosis. “SexyBack,” “Can’t Stop the Feeling,” and “Mirrors,” all No. 1 singles by JT, are now in their hands.
It’s not clear how much money the deal is worth, but sources tell the Wall Street Journal that it’s at least $100 million.

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More than two decades’ worth of music has been collected by Timberlake. In 1995, he rose to prominence as a member of the boy band NSYNC, which became an overnight sensation. As a solo artist, Timberlake has released five studio albums and 40 singles since the group’s international breakthrough.

Bob Dylan, Bruce Springsteen, Neil Young, and Stevie Nicks have all sold their music catalogs in the last few years, according to Mercuriadis, who says that the sale took over a year to finalize. Timberlake, on the other hand, is only 41 years old, making him younger than the other stars signing deals.

For many artists who are selling their back catalogs, it’s a way to provide for the future and take care of their loved ones.

Younger stars like Justin Timberlake aren’t the only ones who have received immediate compensation from Hipgnosis for their earlier work. Both The Chainsmokers and Shakira have signed deals with Hipgnosis, an electronic music publishing company, in the past few months.

According to Mercuriadis, “in the case of those younger songwriters, they’re looking to de-risk their future.” In order for them to continue making music, they want to be able to do so without having to do so because they have to for financial reasons.

Along with the Red Hot Chili Peppers and Journey, Blondie and Neil Young have all signed deals with Hipgnosis.

On Thursday, Timberlake said in a press release, “I’m thrilled to be partnering with Merck and Hipgnosis—he is a true supporter of artists, their work, and the art of storytelling.” “I can’t wait to begin this new chapter in my life.”

So only Timberlake’s songs that he had a hand in writing are included in the deal, which only covers his publishing rights When it comes to his solo hits, Timberlake has penned or co-penned most of the lyrics, but this isn’t the case for a large portion of NSYNC’s discography, which includes songs for artists like Rihanna and Madonna. Bye Bye Bye, for example, isn’t covered by the Hipgnosis agreement.

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On behalf of a $1 billion joint venture between Hipgnosis Song Management and Blackstone, a private equity firm, Hipgnosis Songs Capital was purchased (BGB). As a result of Timberlake’s music being purchased for use in films and TV shows as well as streaming services and cover versions, the fund makes money from these sales.
There was no response from Blackstone regarding the acquisition.

Beyonce’s manager Mercuriadis founded Hipgnosis, a company that was listed on the London Stock Exchange in July of this year. To establish songs as an asset class, the company has been on a steady music acquisition spree since then, offering huge payouts for the ownership of the most popular tracks in history.

In the press release, lawyers for Timberlake, David Lande, and Mitch Tenzer of Ziffren Brittenham LLP, said, “Justin’s incredible catalog will join other amazing works at Hipgnosis which we know will serve as a great steward of his work.”

According to Hipgnosis, the inclusion of Timberlake’s music in the company’s roster of highly selective, top-tier assets is the whole point.

“These are not only some of the most culturally significant songs and extraordinarily successful songs of the last 25 years, but they’ll continue to be so for decades and decades to come,” said Mercuriadis. Nile Rodgers, Neil Young, Chrissie Hynde, and Timbaland are all people I want to see proudly standing next to each other, and I want them all to be proud of it. “I want them all to be proud of it.”