Singer’s fortune explored as he sells music catalog for $100million
Justin Timberlake has sold his entire catalog of songs to song management company Hipgnosi. The singer has handed over the full copyrights to his greatest hits in a deal worth $100 million, according to reports.
Timberlake said in a statement:
“I am delighted to partner with Merck [Mercuriadis] and Hipgnosis – he appreciates artists and their creative work and has always been a strong believer in songwriting and storytelling. I can’t wait to get into this next chapter.
Justin Timberlake sells about 200 songs
Hipgnosis is a London-based song management company that has announced the purchase of Timberlake’s copyright to all tracks he has written or co-written. According to Hipgnosos CEO Merck Mercuriadis, the singer has sold around 200 songs, including his hit numbers. S*xyBack, I can’t stop the feeling and Mirrors.
Justin Timberlake’s catalog of songs spans more than 20 years of his musical career, launched after his fame in 1995 as a member of NSYNC. Timberlake then began his solo career during which he recorded five studio albums and 40 singles.
Hipgnosis CEO and former Music Director Mercuriadis said:
“Justin’s incredible catalog will join other amazing works at Hipgnosis which we know will serve as a great steward of his work. We look forward to a great partnership between Justin and Hipgnosis.
What is Justin Timberlake’s net worth?
Until the beginning of the month, the singer’s net worth was $250 million. However, after Justin TImberlake’s latest deal, the total net worth stands at $350.
Timberlake began his career as a child star on shows like star search and The All-New Mickey Mouse Club. He then rose to fame as a member of boy band NSYNC, after which he embarked on a solo music career. He also started acting soon after.
In 2003, the singer signed a contract with McDonald’s and recorded the song I like this. He is estimated to have earned $6 million from this project alone.
Justin Timberlake and his wife Jessica Biel spent $6.6 million on a 2,600 square foot penthouse in New York’s Soho neighborhood in 2010. They sold the property in January 2019 for slightly less than what they had paid a decade earlier. In 2017, the couple spent $20.2 million on a penthouse in Tribecca and later sold it for $29 million.
Biel and Timberlake bought their Hollywood Hills mansion Helen Hunt for $8.3 million. In October 2021, the singer put the property up for sale for $35 million. The couple own an undeveloped 130-acre estate near Nashville, which they bought for $4 million in 2015.
Other Celebrities Who Sold Their Catalogs to Record Labels
Popular singers selling their music catalogs are now becoming a rising trend. Justin Timberlake isn’t the only celebrity to have sold the rights to his greatest songs. Other famous singers who have also sold their entire catalog of songs include Ryan Tedder and Bruno Mars.
Bruce Springsteen sold his entire discography for $550 million, while Tina Turner sold her catalog to BMG for $50 million. Bob Dylan also sold his entire catalog to Universal Music Publishing Group in 2020.