is cashing out. The singer, who catapulted into stardom as a , is the next artist to sell his music catalog for a handsome sum. In this circumstance, just more than $100 million.
Justin Timberlake offered his songs to Hipgnosis Music Management
Timberlake’s catalog offer is the latest in a growing list of well-known artists who are executing the very same.for $550 million to Sony in Dec. In Jan., of recorded music to Sony. The calendar year prior, Dylan had bought his songwriting catalog to Common Tunes Publishing Group. In Oct., Tina Turner offered her catalog to BMG for about $50 million.
Timberlake is handing more than the full ownership and handle to about 200 tracks he wrote or co-wrote, including, his solo, and film soundtracks occupation. Such music as “Bye Bye Bye,” “Girlfriend,” “Cry Me a River,” “Mirrors,” and “Can’t End the Sensation!” are incorporated in the offer.
Not a great deal much more was disclosed about the specifics of the offer with London-primarily based tunes investment decision corporation Hipgnosis Tune Administration, which is backed by private fairness firm Blackstone. Butdid report that the offer was valued at just more than $100 million, and that the settlement does not address upcoming releases from the “SexyBack” singer.
In a statement, Timberlake explained he was “excited” and “glance[ing] ahead to coming into this up coming chapter.”
Hipgnosis Track Cash
According to the, Hipgnosis was started in 2018 by previous tunes supervisor Merck Mercuriadis. In Oct., it partnered with non-public equity agency Blackstone to start Hipgnosis Tune Funds. Blackstone has contributed an initial $1 billion to the fund.
Earlier this 12 months, Hipgnosis Track Funds introduced that it was purchasing Leonard Cohen’s share of his songwriting catalog from his estate, and an 80% fascination in Kenny Chesney’s recorded-tunes royalties.
The Justin Timberlake purchase is HSC’s third key deal and largest in size, according to the enterprise.
How substantially is Justin Timberlake really worth?
Prior to the catalog deal, Timberlake was believed to be worth $250 Million, in accordance to. The artist has had really the profession. As a kid, he was highlighted on this kind of exhibits as “Star Search” and “The All-New Mickey Mouse Club.” But his vocation definitely took off when he joined NSYNC. After the boy band, Timberlake has loved a fruitful solo occupation. And in addition to music, he’s acted in this kind of jobs as “The Social Network” (2010), “Bad Teacher” (2011), “Friends with Benefits” (2011), and “Wonder Wheel” (2017).
Aside from carrying out, Timberlake is also involved in investing and enterprise, as seen with 901 tequila, William Rast clothes, and several dining establishments. According to the web-site, “In a usual the latest yr, Justin has been regarded to get paid extra than $50 million from his numerous endeavors.”