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Information Officer @ Covenant University
JUSTIN SOLD HIS CATALOG FOR A HUNDRED MILLI
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<p>Yes, some days ago, this news hit the airwaves that Justin Timberlake had sold his music catalog, to a private fund in consortium with music company, Hipgnosis Song Management Limited and backed by Blackstone Inc., an investment firm that manages assets averaging 900 billion dollars.</p>
<p>So, what does this mean for Justin?</p>
<p>Well, since it is mostly a private deal, as intimate details are not known, here is what can happen for him.</p>
<p>First of all, if he owns his masters, then he gets a bulk of this figure</p>
<p>What are masters? They are the original recordings of a song, which can be used for remixing, licensing, streaming, approval in ads and movies in order to get royalties</p>
<p>If his label owned his masters, he gets a small chunk of this. Hopefully, he owns his masters, as he had his own label imprint called Tennman Records in 2007 where he was CEO and owned majority stake. With this much control, there is a high chance of profitability for him.</p>
<p>And he is one of the youngest to sell his catalogs at 41 years as opposed to other artistes. </p>
<p>This deal is a combo of 200 songs he wrote or co-wrote, inclusive of his NSYNC days(sure most of you forgot he was in a band, don't worry I forgive you 😎)</p>
<p>And if the details of the deal are made public, it might be a push for more artistes to sell their catalogs and possibly do better in terms of ownership.</p><p>Like Taylor Swift, whose catalog has been sold twice for 350 and later 300 million, mainly because she lost her rights and is now rerecording all her songs to regain those rights, a lot of artistes should be careful when signing deals, so they know how to use the advance normally gotten at the beginning. </p>
<p>Educate yourself before you end up in a ditch</p>
<p>Own your work!!!!</p>
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JUSTIN SOLD HIS CATALOG FOR A HUNDRED MILLI
By
Queensley Okon
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