Justin Timberlake sells music catalog for $100 million
While Taylor Swift has been doing everything in her power to get her masters back, Justin Timberlake is just giving them away.
Timberlake has reportedly sold his entire song catalog—which includes around 200 chart-topping hits like "Cry Me A River," "Mirrors" "Suit & Tie" and more—to Hipgnosis Song Management. The deal is reportedly worth $100 million.
In a statement, Timberlake said:
“I am excited to be partnering with [Hipgnosis’s CEO and founder] Merck [Mercuriadis] 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.”
Timberlake now joins entertainers such as Bob Dylan, Shakira, and Neil Young, who have all recently sold the rights to their music to the company. London-based firm Hipgnosis is backed by controversial private equity firm Blackstone and in purchasing an artist’s catalog the firm will profit when the songs are licensed for movies, television, streaming, cover music, and performances.
