While Taylor Swift has been trying to get her masters back, Justin Timberlake is just giving ’em away. In a deal with Hipgnosis Song Management, the artist sold his entire music catalog–valued at an estimated $100 million, according to The Wall Street Journal (via CNN).
The deal includes copyrights to approximately 200 songs that Timberlake wrote or co-wrote, and he’s obviously got some mega hits in there–“SexyBack,” “Mirrors,” and the ubiquitous “Can’t Stop The Feeling!” to name just a few. (Most of the NSYNC era remains untouched by this deal, as Timberlake wasn’t a writer on songs like “Bye Bye Bye,” per CNN.)
“I am excited to be partnering with [Hipgnosis’s CEO and founder] Merck [Mercuriadis] 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,” Timberlake said in a statement.
In his own statement, Mercuriadis said, “Putting this deal together has been a complete labor of love. I’m delighted to welcome them all to the Hipgnosis Family. This is the beginning of what we believe will be an incredible relationship important to us all.”
London-based firm Hipgnosis (which is backed by controversial private equity firm Blackstone) has made similar deals with a growing number of superstars, including Neil Young, the Red Hot Chili Peppers, Shakira, and the Chainsmokers. Purchasing an artist’s catalog means that the firm profits when the songs are licensed for movies, television, streaming, cover music and performances.
And what do the artists get out of it? Mercuriadis told CNN Business: “In the case of those younger songwriters, they’re looking to de-risk their future. 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.” We’ll keep an eye out for some creative risks from JT in the future.