Justin Timberlake Reportedly Made $100 Million FromThe Sale Of His Entire Music Catalog
Justin Timberlake Reportedly Made $100 Million FromThe Sale Of His Entire Music Catalog
Justin Timberlake is only in his forties, but based on his newest business arrangement, he appears to be ready to move on from his musical past and enter a new phase of his career. Timberlake decided to part with his whole discography, according to PEOPLE, on Thursday, May 26th.
The actor has been working with Hipgnosis Song Management (a private equity group funded by Blackstone) to reach an agreement that includes “copyrights of approximately 200 songs that Timberlake wrote or co-wrote,” including hits like “SexyBack,” “Can’t Stop the Feeling,” and “Mirrors.”
The exact financials are yet unclear, however individuals familiar with the situation estimate that the sale is worth just over $100 million.
“Justin Timberlake is not only one of the most influential artists of the last 20 years but he’s also one of the greatest songwriters of all time,” Merck Mercuriadis, the founder and CEO of Hipgnosis Song Management, said in a press statement. “His hit songs including ‘Cry Me A River,’ ‘Rock Your Body,’ ‘SexyBack,’ ‘My Love,’ ‘What Goes Around… Comes Around,’ ‘Suit & Tie,’ ‘Mirrors’ and ‘Can’t Stop The Feeling’ are amongst the most iconic of the period.”
He went on to describe working on the contract with Timberlake as “a labor of love,” saying, , “I’m delighted to welcome them all to the Hipgnosis Family. This is the beginning of what we believe will be an incredible relationship important to us all.”
What are your thoughts on this? Let us know in the comments section.