By Blessing Udeobasi
American Music star, Justin Timberlake has sold the rights to his entire song catalog to a London-based firm, Hipgnosis Song Management for the sum of $100m.
This was revealed by the Chief Executive Officer of Hipgnosis Management, Merck Mercuriadis via an announcement on Thursday when he revealed they had purchased all of the singer’s copyrights on tracks he wrote or co-wrote in a deal which took over a year to close.
According to The Wall Street Journal, the music catalogue consisting of over 200 songs was bought for a value of $100 million.
The deal covers Timberlake’s publishing rights only, so only songs that he had a hand in writing are included in the deal.
Timberlake while speaking at a press conference on Thursday said “They’re looking to be put in a position where they can make music for pure purposes going forward based on what they want to do, as opposed to what they have to do for money.”
READ ALSO: Bruce Springsteen reportedly sells music catalog for $500m
“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.” He said.
The songs bought include “S3xyBack,” “Can’t Stop the Feeling” and “Mirrors.”
Timberlake has been singing for the last two decades after finding fame in 1995 as a member of boy band phenomenon N-SYNC.
He later launched a solo career that has included five studio albums and 40 singles and has now joined the likes of Bob Dylan, Bruce Springsteen, Neil Young and Stevie Nicks as artistes who have sold their life’s works for instant cash.
