Why Did Justin Timberlake Sell His Music Catalog?

Justin Timberlake is among the newest musicians to sell his entire music catalog for a lot of money. But why did he do it? Here's what we know.

Musician and producer Justin Timberlake has been singing his means into other folks's hearts for decades. He started out in the boy band NSYNC and has cast a successful career as a solo artist since then. He's written or co-written masses of songs, and now, he's giving all of it up.

In May 2022, it was introduced that Justin had bought all of his music rights in a deal that took greater than a 12 months to complete. But why did he make a decision to sell his entire music catalog? It turns out that he is now not the one one making this choice.

Why did Justin Timberlake sell his music catalog?

According to CNN, Justin offered his complete music catalog to the London-based company Hipgnosis Song Management.

Although the precise greenback quantity hasn't been disclosed, it is estimated that the sale put more than $100 million in Justin's pocket, in keeping with The Wall Street Journal.

As of now, neither Justin nor somebody on his team has spoken up about why he determined to sell his music, however it's possible that he is trying to protected his budget for his long term.

"A lot of the artists that are selling their catalogs 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," Hannah Karp, editorial director at Billboard, told CNN.

In this trend among artists, Justin is among the youngest to do so. As of newsletter, he is forty one years previous, while others who are promoting their music are years older than him. According to Rolling Stone, Stevie Nicks and Bob Dylan have also sold their music and are of their 70s and 80s respectively.

In the case of those more youthful artists promoting their music, the CEO of Hipgnosis Song Management, Merck Mercuriadis, instructed CNN that this move may well be about artists wanting to return to making music because they adore it, not for cash.

"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. "I look forward to entering this next chapter."

What is Justin Timberlake's net value?

According to Celebrity Net Worth, Justin is price $250 million. But with the sale of his music, it's most likely that Justin's exact net price is way upper now.

Aside from his career making music in NSYNC and as a solo artist, Justin is also a TV and picture manufacturer. According to his IMDb, he has been an executive manufacturer for the Fox recreation show Spin the Wheel, the documentary The Short Game, and The Phone TV series, among different initiatives.

Over the years, Justin has additionally has had a lot of offers with brands. He's worked with McDonald's, Givenchy, Sony, Walmart, and more. And on most sensible of that, he's owned numerous properties as smartly. One of them was once a penthouse in NYC that he purchased alongside his wife, Jessica Biel, for $20 million in 2017.

According to E! News, Justin and his wife sold the penthouse for $29 million in 2022. In addition, the couple additionally had some other NYC house that they purchased in 2010 for $6.6 million. They then bought it in 2019 for rather less than they paid for it.

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