The pop star joins other influential artists like Shakira, Bob Dylan, and Bruce Springsteen in selling their discographies for millions.
Ten-time Grammy-winning artist Justin Timberlake has sold his entire song catalog—which includes Billboard chart-toppers like “Cry Me A River,” “Not A Bad Thing,” and “Señorita”—to Hipgnosis Song Management.
According to the Wall Street Journal, the deal is worth upward of $100 million.
Billboard’s editorial director Hannah Karp told CNN that many artists selling their catalogs are planning their estates, “[They’re] sort of planning for the future, and they are at a point in their lives where it makes sense to sell their music to provide for their families.”
Recently, influential musicals like Fleetwood Mac, Neil Young, Shakira, John Lennon, Dire Straits, and Bob Dylan have sold their discographies—and none of these deals come cheap.
New asset class
The latter’s musical rights were sold to Universal Music Group for about $400 million. Meanwhile, Bruce Springsteen sold his catalog to Sony for $550 million in December.
In fact, last year, Hipgnosis Song Management partnered with global investment firm Blackstone for a $1 billion contract to invest in songs, recorded music, music IP (intellectual property), and royalties.
In a statement, Merck Mercuriadis, the CEO of Hipgnosis Song Management (HSM), says that they work to make established songs “an asset class.”
“This new partnership with Blackstone will deliver financial strength to invest in proven songs as well as grow our song management team and bring additional sophistication to HSM,” Mercuriadis said last October. “Enabling us to create greater value to our stakeholders, including our songwriters and shareholders in song.”
Beyond Timberlake’s music catalog, HSM will also own his copyright and get income shares from his future public performances.
Since going solo
The pop superstar started in the boy band NSYNC before establishing a solo performer career in 2001. Timberlake’s first solo album, titled Justified (2002), included songs about his relationship with a longtime love interest and fellow pop sensation Britney Spears.
He bagged a Grammy for best male pop vocal performance for “Cry Me a River,” the most popular track from the Justified.
Timberlake has lent his voice to the children’s musical films Trolls (2016) and Trolls World Tour (2020) as Branch on the big screen. He also took on non-musical roles in Friends with Benefits (2011) and In Time (2011), and most recently, opposite his wife Jessica Biel in the Hulu series Candy.
“[Merck Mercuriadis] values artists and their creative work and has always been a strong supporter of songwriters and storytelling. I look forward to entering this next chapter,” the 41-year-old said in a statement.
Banner photo from @JustinTimberlake on Instagram.
