Justin Timberlake better put on his best suit and tie for this deal!
On May 26, it was announced that the singer, 41, has sold his entire song catalog–which includes Billboard chart-topping hits like “Cry Me A River,” “Rock Your Body,” “Not A Bad Thing” and “Seorita”–to Hipgnosis Song Management. The deal is reportedly worth $100 million, per The Wall Street Journal.
“I am excited to be partnering with [Hipgnosis founder and CEO Merck Mercuriadis],” Timberlake said in a statement. “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.”
In addition to his entire music catalog, Hipgnosis will also own Timberlake’s copyright, ownership and the financial interests of the writer and publisher’s share of the star’s public performance income going forward.
With his sale, the singer–who recently starred opposite his wife Jessica Biel in the Hulu series “Candy”–joins a growing list of prominent musicians that have sold their catalogs within the last year.
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In January, Shakira and Neil Young both sold portions of their song catalogs to Hipgnosis Song Management.
The “Hips Don’t Lie” singer, 45, struck a deal to sell her entire catalog to the company for an undisclosed amount, while Neil, 76, parted with 50 percent of his total catalogue for an estimated $150 million.
That same month, Bob Dylan also made a deal with Sony Music Entertainment for the rights to all of his recorded music for a price point between $150 and $200 million.
Last December, Bruce Springsteen made headlines when he sold his songwriting and recording rights for an estimated $550 million. In addition, Stevie Nicks of Fleetwood Mac sold the publishing rights to most of her songs, including the hit “Landslide,” to Primary Wave for $100 million.
