Justin Timberlake has sold the rights to his songs, including blockbusters like “Cry Me A River” and “Rock Your Body,” to Hipgnosis Song Management, making him the latest pop artist to cash in on the booming music streaming business.
The financial parameters of the purchase were not disclosed, although the Wall Street Journal reported that it was worth slightly over $100 million.
The transaction was conducted on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by investment company Blackstone Inc, according to a statement from the consultancy business founded by music entrepreneur Merck Mercuriadis.
Timberlake rose to prominence as one-fifth of the boy band NSync in the 1990s, becoming a model for good looks.
Following the dissolution of NSync, Timberlake debuted his solo career with his debut solo album “Justified,” released in 2002.
His album “FutureSex/LoveSounds” launched a new sound in the mainstream charts, merging pop, R&B, hip hop, and dance. He also appears in Clint Eastwood’s films “The Social Network,” “Friends with Benefits,” and “The Trouble With The Curve.”
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