Justin Timberlake just struck a massive deal to sell his song catalog to Hipgnosis Song Management. According to Bloomberg, the deal is valued at just around $100 million. Now the song management company has control and ownership of over 200 songs Timberlake has created during his decades-long career.
Hipgnosis was founded in 2018 by Merk Mercuriadis. About Timberlake, he said, “the iconic American singer, songwriter, record producer and actor who is one of the most influential artists of the last 20 years and named by Billboard as the best performing male solo artist in Top 40/Contemporary Hit Radio history.”
Included in the sale are, “all of Justin Timberlake’s copyright, ownership and financial interests of the writer and publisher’s share of public performance income, and the catalog of musical compositions written by Justin Timberlake… the worldwide administration rights to the compositions, subject to the remaining term of Universal Music’s administration rights, which expire in 2025.”
About selling his catalog to Hipgnosis, Timberlake said, “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. I look forward to entering this next chapter.”
The sale is one of several the song management company has completed since being founded, including buying stakes in the catalogs of Rihanna, Shakira, and Neil Young. Timberlake might be the biggest sale yet, though, with the company saying:
“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. 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. Putting this deal together has been a complete labor of love.”