The singer Justin Timberlake has joined the growing number of artists who have chosen to divest themselves of the exploitation rights of their musical catalogues, of course receiving millionaire sums in return with which to ensure a more than comfortable financial cushion for the future.
In the case of the former NSYNC member, his extensive repertoire of albums and singles will end up in the hands of the investment fund Hipgnosis, once the distribution contract that the performer has with Universal Music expires, which will last until 2025. The value of the operation is estimated at about $100 million dollars, according to the specialized media Variety.
The author -or co-author- of such representative pop songs of the last 20 years as ‘Cry Me A River’, ‘Sexyback’, ‘Rock your Body’ and ‘Can’t Stop the Feeling’ will thus benefit from an increasingly widespread trend in the American industryunderstandable among other reasons due to the notable drop in income caused by the coronavirus pandemic, with concert cancellations and the stoppage in the edition of physical copies.
Bruce Springsteen recently sold his copyright to the multinational Sony for an astronomical sum of $500 million dollars, while Bob Dylan, whose main source of income in recent years also came from his live performances, did the same with Universal in a transaction estimated between $300 and $400 million dollars. The queen of rock, Tina Turner, opted last year to cede control of her creations to the group BGM, consequently receiving around 300 million dollars.
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Source-eldiariony.com