Justin Timberlake sells song catalogue to Hipgnosis

Singer Justin Timberlake attend an occasion for the tv sequence Sweet at El Capitan theatre in Los Angeles, California, U.S. Might 9, 2022. REUTERS/Mario Anzuoni

Might 26 (Reuters) – Justin Timberlake has offered the rights to his songs together with hits corresponding to “Cry Me A River” and “Rock Your Physique” to Hipgnosis Music Administration, the most recent pop star to money in on his physique of labor within the red-hot marketplace for music streaming.

Monetary phrases of the deal weren’t disclosed, though a report by the Wall Avenue Journal stated the transaction was valued at simply above $100 million.

The deal was made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Music Administration and funds managed by funding agency Blackstone Inc (BX.N), the advisory agency owned by music government Merck Mercuriadis stated in an announcement.

Timberlake rose to fame as one-fifth of 1990’s boy band NSync, turning into a pin-up for attractiveness.

After NSync parted methods, Timberlake launched his solo profession in his debut solo album “Justified,” in 2002.

His “FutureSex/LoveSounds” album arrived on the forefront of a brand new sound within the pop charts, fusing pop, R&B, hip hop and dance. He additionally appeared in movies corresponding to “The Social Community”, “Buddies with Advantages” and “The Hassle With The Curve,” alongside Clint Eastwood.

The deal comes at a time when the dearth of reside concert events and delayed launch of recent recordings because of the pandemic immediate artists to monetize their older work.

Earlier this 12 months, Hipgnosis Music Administration acquired the music catalogue of Canadian singer-songwriter Leonard Cohen, whereas British singer-songwriter Sting offered his profession music catalogue to  Common Music Publishing Group. learn extra

Hipgnosis buys artists’ tune catalogs and earns income when the music is streamed on-line or utilized in motion pictures or promoting.

The agency’s partnership with Blackstone goals to speculate $1 billion for getting music rights, document songs and handle catalogues.

Reporting by Tiyashi Datta in Bengaluru; Enhancing by Anil D’Silva

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