Catalog cover

Justin Timberlake is selling his entire music catalog

London-based company Hipgnosis Song Management announced on Thursday that it has purchased all of the singer’s copyrights to tracks he has written or co-written, a total of around 200 songs, according to the Hipgnosis CEO, Merck Mercuriadis. Some of JT’s No. 1 hits now under their control include “SexyBack”, “Can’t Stop the Feeling” and “Mirrors”.

The dollar amount behind the deal was not disclosed, but people familiar with the matter put it at more than $100 million, according to the Wall Street Journal.

Timberlake’s music collection spans over 20 years. The singer shot to fame in 1995 as a member of boy band phenomenon NSYNC. Following the group’s international success, Timberlake launched a solo career that has included five studio albums and 40 singles.

The sale took more than a year to close, according to Mercuriadis, and is part of a growing trend of megastars selling off their music catalogs, including Bob Dylan, Bruce Springsteen, Neil Young and Stevie Nicks. At 41, however, Timberlake is younger than other musical icons.

“A lot of artists who sell their catalogs come to a point in their lives where they’re planning their estates, sort of planning for the future and they’re at a point in their lives where it makes sense to sell their music to support to the needs of their families,” Hannah Karp, editorial director of Billboard, told CNN.

Timberlake isn’t the only young star receiving immediate payouts for his early work with Hipgnosis. The Chainsmokers, a duo of creators of electronic music hits, sold their catalog to the company in 2019, and Shakira struck a deal with Hipgnosis in January.

“In the case of these young songwriters, they’re looking to de-risk their future,” Mercuriadis told CNN Business. “They’re looking to be put in a position where they can make music for pure purposes in the future based on what they want to do, as opposed to what they have to do for the money.”

Other artists who have signed deals with Hipgnosis include the Red Hot Chili Peppers, Journey, Blondie and Neil Young.

“I am thrilled to partner with Merck and Hipgnosis – he values ​​artists and their creative work and has always been a strong supporter of songwriters and storytelling,” Timberlake said in a press release Thursday. “I can’t wait to get into this next chapter.”

The deal only covers Timberlake’s publishing rights, so only the songs he was involved in writing are included in the deal. While Timberlake wrote or co-wrote many songs that earned him solo success — and several songs for other artists such as Rihanna and Madonna — the same is not true for much of the musical catalog. by NSYNC. This means that hits like “Bye Bye Bye” fall outside the scope of the Hipgnosis agreement.

The purchase was made on behalf of Hipgnosis Songs Capital, a $1 billion partnership between Hipgnosis Song Management and funds managed by a private equity firm. black stone (BGB). The fund makes profits on purchases such as Timberlake’s music through film, television, streaming, cover music and performance.

Blackstone declined to comment on the acquisition.

Hipgnosis, created by legendary music director Mercuriadis who managed artists like Beyonce, listed on the London Stock Exchange in July 2018. songs as an asset class, offering huge payouts for ownership of some of the greatest tracks of all time.

“Justin’s incredible catalog will join other amazing works at Hipgnosis which we know will serve as an excellent steward of his work,” David Lande and Mitch Tenzer of Ziffren Brittenham LLP, Timberlake’s attorneys, said in the statement. Press release.

That Timberlake’s lineup joins a group of highly selective top-tier assets owned by Hipgnosis is the whole point, the company says.

“These are not only some of the most culturally significant and extraordinarily successful songs of the past 25 years, but they will continue to be so for decades and decades to come,” Mercuriadis said. “I want Justin to be proud to be next to Nile Rodgers, and I want Nile Rodgers to be proud to be next to Neil Young, and I want Neil Young to be proud to be next to Chrissie Hynde, and I want Chris Hynde to be proud to stand with Timbaland.”

Additional reporting by Chloe Melas.