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Justin Timberlake has sold his song catalogue in a deal reportedly worth $100 million.
The ‘SexyBack’ hitmaker is “excited to be partnering with” Hipgnosis Song Management – who offer investors the chance to earn royalties from the work of a diverse range artists such as Barry Manilow and Beyonce – and a $1 billion fund supported by the private equity firm Blackstone in a deal believed to be valued at $100 million, according to The Guardian newspaper.
The 41-year-old entertainer – who has sons Phineas, two, and Silas, seven, with his wife Jessica Biel, 40 said: “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.”
The deal between the former NSYNC star and the management company gives them 100 per cent control and ownership over his stake in more than 200 songs he has been involved in writing.
The founder and CEO of Hipgnosis, Merck Mercuriadis said: “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. 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.”
This arrangement with Justin is the third one finalised by and Hipgnosis Song Capital in 2022 as this year this snapped up the late singer-songwriter Leonard Cohen’s share of catalogue and 80 per cent of the royalties of country star Kenny Chesney.