It has been reported that pop star Justin Timberlake has offloaded his entire song library.
The buyer, London-based firm Hipgnosis Song Management, revealed the acquisition on Thursday, May 26. This move by Timberlake mirrors a trend among music icons who are cashing in by selling the rights to their music for millions.
Hipgnosis Management CEO Merck Mercuriadis confirmed that the deal comprises all the singer’s copyrights on tracks he either wrote or co-wrote, totaling to approximately 200 songs. Some of the notable songs included in the deal are “SexyBack,” “Can’t Stop the Feeling,” and “Mirrors.”
The deal saw the music catalog change hands for a staggering $100 million, according to The Wall Street Journal.
Timberlake has been actively involved in the music industry for the past two decades, beginning with his rise to fame in 1995 as part of the boy band sensation N-SYNC. Following the group’s success, he embarked on a solo career, which has yielded five studio albums and 40 singles.
It is important to note that the agreement covers only Timberlake’s publishing rights, so it includes songs in which he had a hand in the writing process.
A statement from Timberlake expressed his enthusiasm about teaming up with Mercuriadis and Hipgnosis, highlighting the importance of creative freedom and a genuine passion for music over financial gain. He is quoted as saying, “I am excited to be partnering with Merck 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.”
According to Mercuriadis, the music catalog sale took a year to finalize. Timberlake now joins the ranks of Bob Dylan, Bruce Springsteen, Neil Young, and Stevie Nicks, who have chosen to monetize their life’s work for immediate financial gain.
Another notable instance is the electronic music duo The Chainsmokers, who sold their catalog to Hipgnosis in 2019, while Shakira struck a deal with Hipgnosis in January.
“In the case of those younger songwriters, they’re looking to de-risk their future,” Mercuriadis explained to CNN Business.
