Justin Timberlake Sells His Entire Music Catalogue For Whopping $100 Million
Justin Timberlake is one of the most popular singers in the world with hits like Sexy Back, Mirrors and Cry me a river still being regular favorites of fans despite being released years before. There is no doubt that the discography of Timberlake is one of the most valued one in the world of music and it seems that Justin was well aware of this as he struck the deal of a life time. In a recent interview, Timberlake revealed that he had sold his entire music catalogue for a massive price tag of $100 million. The deal was struck with Hipgnosis Song Management, a company which has emerged on the scene to establish successful songs by culturally important artists as an asset to, as they put it themselves, "Improve the songwriter's position in the economic equation."
While this deal may make some traditional artist uncomfortable, Justin seems very happy with it claiming that the CEO of Hipgnosis Song Management is a real enthusiast and someone who values creative individuals and their work.
It is currently a blur what this deal means for the future of Timberlake's music career; whether new Justin Timberlake songs can be expected or not remains a question however Timberlake himself only remarked that he was excited to enter this next chapter of his life.
This kind of deal is a new occurrence in the world of music but Justin Timberlake isn't the first artists to have made it, both Shakira and Neil Young have made a similar deal with Hipgnosis Song Management.
Even iconic artists such as Bruce Springsteen and Bob Dylan have followed suit as both artists sold their entire legendary catalogs. Bob Dylan's catalog sold for a whopping $200 million while Bruce Springsteen made a $500 million with his songs and understandably so.
The deal doesn't just include the music but also covers "ownership and the financial interests of the writer and publisher's share of the star's public performance income going forward."
More and more artists are becoming attracted towards a deal of this nature and it will be interesting to see how big the price tags get moving on.