Timberlake has sold his songs to Hipgnosis Song Management in London, joining a growing list of musicians who have sold the rights to their music for millions of dollars.
According to Hipgnosis CEO Merck Mercuriadis, Hipgnosis Management purchased all of the singer's copyrights on tracks he wrote or co-authored, totaling 200 songs, on Thursday, May 26.
Following the group's breakthrough, he embarked on a solo career, releasing five studio albums and 40 singles.
Timberlake's publishing rights are only covered by the deal, meaning only songs that he co-wrote are included.
"SexyBack," "Can't Stop the Feeling," and "Mirrors" are among the tunes purchased.
According to The Wall Street Journal, the music catalog was purchased for $100 million.
After becoming famous in 1995 as a part of the boy band N-SYNC, Timberlake has been singing for the past two decades.
He started his own company after the group's popularity.
"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."
"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," said Timberlake in a press release Thursday. "I look forward to entering this next chapter."
According to Mercuriadis, the music catalogue sale took over a year to close.
He now joins the likes of Bob Dylan, Bruce Springsteen, Neil Young and
Stevie Nicks as artistes who have sold their life's works for instant
cash.
The Chainsmokers, an electronic music hit maker duo, sold their catalog to Hipgnosis in 2019, and Shakira struck a deal with Hipgnosis in January.
"In the case of those younger songwriters, they're looking to de-risk their future," Mercuriadis told CNN Business.
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