Justin Timberlake Sells Song Catalog To Hipgnosis For More Than $100M
In recent years, it’s become more and more common for veteran musicians to sell off the rights to their music, in some form or another. In December, Bruce Springsteen sold his masters and publishing to Sony in a $500 million deal. Bob Dylan also sold his recorded music catalog to Sony in January. Stevie Nicks, David Crosby, Lindsey Buckingham, Mick Fleetwood have all cut similar deals too.
Now, Justin Timberlake is the latest to join their ranks. The Wall Street Journal reports that Timberlake has sold his song catalog to Hipgnosis Song Management, which has a partnership with the private equity firm Blackstone. The deal is reportedly worth over $100 million. That’s a pretty significant sum — for example, twice as much as Tina Turner’s deal with BMG back in October. It’s also notable that Timberlake is one of the younger artists to do this, though Shakira also sold her catalog to Hipgnosis last year.
Another element of Timberlake’s deal is that it doesn’t cover future releases. “I look forward to entering this next chapter,” Timberlake said in a statement.