Popular singer and former NSYNC band member Justin Timberlake has sold his 200-song catalogue to London-based firm Hipgnosis Song Management on May 26. While it is not known what the valuation of the deal was, it is estimated to be above US $100 million.
Timberlake has sold his 5 studio albums and 40 singles including No 1 hits, SexyBack, Can't Stop the Feeling and Mirrors. Songs that he co-wrote with other NSYNC band members do not belong to Hipgnosis.
Explaining why Timberlake sold his music, Billboard editorial director, Hannah Karp told CNN, “A lot of the artists that are selling their catalogues are getting to a point in their lives where they are planning their estates, sort of planning for the future and they are at a point in their lives where it makes sense to sell their music to provide for their families.”
Other artists who have sold their music to Hipgnosis are The Chainsmokers, Shakira, Red Hot Chili Peppers, Journey, Blondie and Neil Young.
Timberlake described his new venture with Hipgnosis, “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.”
But Timberlake isn’t the only artist to sell his music. Here are some other artists who have sold their music in recent times:
1. STING
Legendary artist Sting has sold his entire music catalogue, including songs he wrote with Police and as a solo artist, to Universal in February 2022.
At what value Universal bought Sting’s music is not known.
2. BOB DYLAN
In January 2022, Dylan sold off his entire music collection to Sony Music Entertainment for an amount between US $150 million and US $200 million.
3. DAVID BOWIE
David Bowie’s songs were sold to Warner Chappell Music in January 2022. The sale was for over US $250 million.
4. BRUCE SPRINGSTEEN
In December 2021, Bruce Springsteen’s entire recorded music and songwriting catalogues were sold to Sony music. It was estimated that Springsteen received about US $550 million for the sale.