Justin Timberlake is cashing in. Singer, who rose to fame as a member of NSYNC, is the next artist to sell his song catalog for a hefty sum. In this case, just over $ 100 million.
Justin Timberlake sold his songs to Management of the song dell’ancagnosi
Timberlake’s catalog deal is the latest in a growing list of famous artists who are doing the same. Bruce Springsteen sold his catalog for $ 550 million to Sony in December. In January, Bob Dylan also sold his catalog of recorded songs to Sony. The year before, Dylan had sold his song catalog to Universal Music Publishing Group. In October, Tina Turner sold her catalog to BMG for about $ 50 million.
Timberlake is relinquishing full ownership and control of approximately 200 songs he has written or co-written, including his NSYNC days, his solo career, and film scores. Songs like “Bye Bye Bye”, “Girlfriend”, “Cry Me a River”, “Mirrors” and “Can’t Stop the Feeling!” are included in the deal.
Not much more has been revealed regarding the specifics of the deal with London-based music investment firm Hipgnosis Song Management, which is backed by private equity firm Blackstone. But The Wall Street Journal reported that the deal was valued at just over $ 100 million and that the deal does not cover the “SexyBack” singer’s future releases.
In a statement, Timberlake said he was “excited” and “Look[ing] eager to enter the next chapter “.
Capital of the song Hipgnosis
According to the New York Post, Hipgnosis was founded in 2018 by former music manager Merck Mercuriadis. In October, he partnered with private equity firm Blackstone to launch Hipgnosis Song Capital. Blackstone contributed an initial $ 1 billion to the fund.
Earlier this year, Hipgnosis Song Capital announced it was buying Leonard Cohen’s share of its songwriters catalog from its ownership and an 80% stake in Kenny Chesney’s recorded music royalties.
The purchase of Justin Timberlake is HSC’s third big and largest deal, according to the company.
How much is Justin Timberlake worth?
Prior to the catalog deal, according to Celebrity Net Worth, Timberlake was worth $ 250 million. The artist had quite a career. As a child, he appeared on programs such as “Star Search” and “The All-New Mickey Mouse Club”. But his career really took off when he joined NSYNC. After boy band, Timberlake enjoyed a fruitful solo career. And in addition to music, he has starred in projects such as “The Social Network” (2010), “Bad Teacher” (2011), “Friends with Benefits” (2011) and “Wonder Wheel” (2017).
In addition to performing, Timberlake is also involved in investment and business, as seen with 901 tequila, William Rast clothing, and various restaurants. According to the site, “In a typical recent year, Justin is known to have earned more than $ 50 million from his various endeavors ”.
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