Timberlake Sells Catalog To Hipgnosis

• Justin Timberlake has joined the growing number of recording artists selling their song catalogs for huge paydays. Variety reports that Hipgnosis Song Management has acquired 100% of Timberlake’s copyright, ownership and financial interests of the writer and publisher’s share of public performance income, and the catalog of musical compositions written by Timberlake, according to the announcement. Also included in the sale to Hipgnosis are the worldwide administration rights to the compositions, subject to the remaining term of Universal Music’s administration rights, which expire in 2025.

Further terms of the deal were not disclosed, although the Wall Street Journal cites unnamed sources as saying the transaction is valued at “just above $100 million,” and does not include future works. The acquisition has been made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by Blackstone.

Timberlake has sold more than 150 million records — 88 million as a solo artist and 70 million with ‘NSYNC — and earned 10 Grammy Awards. Merck Mercuriadis, CEO of Hipgnosis Song Management, 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.”

Timberlake is represented by managers Rick Yorn and Josh Dembling at LBI Entertainment and Johnny Wright at Wright Entertainment Group and lawyers David Lande and Mitch Tenzer at Ziffren Brittenham LLP. Timberlake said, “I’m 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.” Mercuriadis added, “Putting this deal together has been a complete labour of love for Justin, Rick, David and myself and I’m delighted to welcome them all to the Hipgnosis Family.”