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Justin Timberlake sells song catalogue in deal ‘worth just over $100m’

Justin Timberlake has sold his song catalogue to Hipgnosis Song Management and a fund backed by the private equity firm Blackstone in a deal thought to be worth just over $100m 75.5m. Hipgnosis offers investors the chance to make money from the royalties of popular songs by artists from Barry Manilow to Beyoncé. It teamed up with Blackstone last year to launch a private vehicle called Hipgnosis Songs Capital. With $1bn of initial funding from Blackstone it was set up to acquire music rights and manage catalogues. The private equity firm also took a stake in Hipgnosis.

The deal with Timberlake gives Hipgnosis Songs Capital full control and ownership over his interest in 200 songs he has written or co-written during his career with the boyband NSync and as a solo artist. He first came to prominence in 1995 as one of the two lead singers in NSync whose albums have sold 70m copies worldwide. As a solo artist he has eclipsed those sales with 88m copies of his albums sold globally.Merck Mercuriadis the founder and chief executive of Hipgnosis said Justin Timberlake is not only one of the most influential artists of the last 20 years but he has 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 not Stop the Feeling are amongst the most iconic of the period.

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