Justin Timberlake sells the music catalog to Hipgnosis – Music

(ANSA) – NEW YORK, MAY 26 – Justin Timberlake, one of the most successful pop singers of the last 20 years, has sold his entire music catalog for over one hundred million dollars to Hipgnosis, the company of Merck Mercuriadis, partner of the group of private equity Blackstone. The size of the figure was published in the “Wall Street Journal”. Author of songs like “What Goes Around … Comes Around” and “Cry Me a River”, but also an actor in “Social Network” and often on Snl for which he won four Emmys, Timberlake is 41 years old: he entered so relatively young in the club of “big old men” like Bob Dylan, Bruce Springsteen, Paul Simon and Sting, who have shaken off decades of music production in the last few months. The singer said he was “excited” by the partnership: “I can’t wait to start this new chapter”. Blackstone entered business with Hipgnosis in October with an initial investment of $ 1 billion to launch a private ‘vehicle’ – Hipgnosis Songs Capital – to purchase music catalogs separately from the City-listed UK fund Hipgnosis Songs it bought. so far over two billion dollars in music rights. The music catalog market has gotten hot in the years of the pandemic, but despite rumors of a $ 500 million bid between BMG and Warner for Pink Floyd’s musical legacy, according to many observers, the trend seems to be in slowdown. This would explain why artists like Timberlake or 43-year-old John Legend rushed to close the deal by striking while the iron is hot. Legend, winner of Emmy, Grammy, Oscar and Tony, sold in January to an alliance between BMG and Kkr. (HANDLE).

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