Justin Timberlake sells off music back catalogue for ‘$100 million’

OHMYGOSSIP — Justin Timberlake has sold off his music back catalogue in a deal said to be worth $100 million.
The pop star, 41, struck a deal for around 200 of his songs including hits such as ‘SexyBack’ and ‘Mirrors’ to Hipgnosis Song Management, the company founded by Merck Mercuriadis and Nile Rodgers in 2018.
He confirmed the news in a statement, which read: “I am excited to be partnering with (Hipgnosis founder and chief executive Merck Mercuriadis).
“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.”
Merck added: “Justin’s incredible catalogue will join other amazing works at Hipgnosis which we know will serve as a great steward of his work. We look forward to a great partnership between Justin and Hipgnosis.”
An exact figure for the sale has not been released, but The Wall Street Journal reports the deal could be worth in excess of $100 million.
Justin follows in the footsteps of other stars including Shakira and Neil Young, who both sold off chunks of their back catalogue to the same company earlier this year.
Shakira sold off her entire body of work for an undisclosed sum while Neil parted with 50 percent of his recordings for an estimated $150 million.
Other songs included in Justin’s deal include ‘Cry Me A River’, Rock Your Body’ and ‘Senorita’.
As well as the music catalogue, the company will also take ownership of Justin’s copyright and the publisher’s share of his public performances of the tracks.

Source: IconInsider.com

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