Singer Justin Timberlake sells entire music catalog for N41.5 Trillion
American singer, Justin Timberlake has sold his entire music catalog for a whopping sum of $100 million (Over N41.5 Trillion) to Hipgnosis, a London-based firm.
The songwriter, on Thursday, May 26, was revealed that he sold the copyrights on tracks he wrote and those he co-wrote to the London-based firm, Hipgnosis.
Justin Timberlake Sells Entire Catalog to Hipgnosis Song Management – Rolling Stone
Justin Timberlake joined a host of other artists to rack in quick cash, from the likes of Bob Dylan, Bruce Springsteen, Neil Young and Stevie Nicks as artistes who have sold their life’s works for instant cash.
According to Hipgnosis CEO, Merck Mercuriadis, the songs sold for $100 million totaled 200 songs by the artist, they include “SexyBack,” “Can’t Stop the Feeling” and “Mirrors.”
Mercuriadis stated that the music catalogue sale took over a year to close.
The deal covers Timberlake’s publishing rights only, so only songs that he had a hand in writing are included in the deal.
“They’re looking to be put in a position where they can make music for pure purposes going forward based on what they want to do, as opposed to what they have to do for money.”
“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,” said Timberlake in a press release Thursday. “I look forward to entering this next chapter.”
Timberlake has been singing for the last two decades after finding fame in 1995 as a member of the boy band phenomenon N-SYNC.
After the group’s success, he launched a solo career that included five studio albums and 40 singles.