Shakira, Justin Timberlake among biggest artists to sell catalogs
Simone Del Rosario: Wouldn’t it rock to get a huge payout for work you did decades ago? That’s life in the music biz – where there’s a rising trend of some of the biggest artists in history selling their catalogs for 9 figures! Let’s take a look at some of the latest megastar mega-deals in this week’s five for friday.
At number 5, Justin Timberlake will have plenty of dough to buy a new “Suit and Tie” after selling his entire songwriting catalog to Hipgnosis Song Management for a reported $100 million. Founded back in 2018, Hipgnosis has already spent well over 2 billion on catalogs like this – betting big they won’t be “Crying a River” over the streaming revenue.
Bob Dylan is number 4 on our list. “The Times They Are A-Changin’” for Dylan after selling his 600-song catalog to Universal Publishing Group for a rumored $300-400 million. Here’s one hipgnosis missed out on – proving major labels can still compete with private equity. Dylan hasn’t commented on the sale, but some speculate the 81 year old’s decision was made for estate planning purposes.
Shakira would have to be “Loca” to not entertain a mega offer from Hipgnosis to sell her catalog. Her January 2021 sale came on the heels of covid lockdowns when tours were shut down – cutting a much needed source of revenue. Just how much did she get? Welp, her “Hips Don’t Lie,” but her lips are sealed. Having sold more than 80 million records worldwide you can bet it fetched a pretty penny.
And, it’s not just headliners on our list. super-producer Mark Eonson’s undisclosed deal clocks in at number two. sure his name appears on songs like “Uptown Funk ” with Bruno Mars, but he’s also behind hits for the likes of Amy Winehouse, Lady Gaga, and Miley Cyrus. It’s no wonder Hipgnosis gave him many “Million Reasons” to sell, when Ronson has dozens of number-1 hits and 2 songs that have been streamed over 1 billion times.
The old guard labels got another win with our number 1 – which happens to be the biggest ever catalog sale for a single artist. Sony Music Group bought Bruce Springsteen’s for an estimated $550 million. The boss may be “Blinded by the Light,” if that light is the bling of more than half a billion dollars. It capped off a major spending spree by Sony last year.
Feel spared. I had several more song puns in store. but i was “Born to Run, and you can watch this “Whenever, Wherever.” “Bye Bye Bye.” Yeah OK that one wasn’t even part of JT’s deal. That’s your five for friday. I’m Simone Del Rosario for Just Business.