Justin Timberlake Sells Catalog to Hipgnosis for Reported $100M
Justin Timberlake became the most recent artist to ink a deal to ensure that his catalog is well-maintained for years to come. The 10-time Grammy Award winner sold his full catalog to Blackstone-backed Hipgnosis Songs Capital for a reported $100 million, according to inside sources. As part of the deal, Variety reports that Timberlake turned over the entirety of his “copyright, ownership and financial interests of the writer and publisher’s share of public performance income, and the catalog of musical compositions.” Universal Music Group currently is responsible for the global administration of his songs, and will continue to own those rights until 2025 – at which point, they will be subsumed by the current contract. The package does not include Timberlake’s future releases.
Jack Dorsey to Step Down from Twitter Board
All things come to an end. On Wednesday, Jack Dorsey confirmed that he will step down from the Twitter board. The company’s co-founder left in November 2021 to pursue his own interests, which have largely focused on the blockchain. Since Now the Block exec will end his final connection to the company and focus on his own endeavors. As part of his transition to Block (which was formerly Square), Dorsey has doubled down on his belief in the future of crypto, despite its volatile state, and purchased Tidal from Jay-Z.
New York Mets Top MLB Payrolls at $268.8M
We are at the end of the first quarter of the 2022 MLB season. Could this be the Angels’ year after all? If so, they will forge success amidst a crowded league of elevated payrolls. According to USA Today, the New York Mets top this year’s list with a total payroll of $268.79 million, followed by the Dodgers, Yankees, Phillies, and Padres.
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Howard University and Jordan Brand Unveil Historic Partnership
In 1997, Jordan Brand jumped on the scene as an extension of Nike, Inc. With its arrival, it inked deals with three schools, including North Carolina A&T University. However, since that time, the Jordan roster has lacked HBCU representation. Boardroom exclusively reports that that is bound to change, as the Jumpman logo is expected to sign Howard University to a school-wide deal to outfit its athletic department. The Bisons will join the University of North Carolina, UCLA, Michigan, Georgetown, Marquette, San Diego State, Houston, Oklahoma, and Florida, which each currently has partnerships with the brand.
After Viral Moment, ‘Michelob Ultra Guy’ Scores a Deal
Sometimes you just happen to be in the right place at the right time. Last weekend, one golf fan was captured cradling his low-carb beer while all of those surrounding him pointed their phones at Tiger Woods at the PGA Championship. The fan’s commitment to his Michelob Ultra has been rewarded, as the fan’s — known only as Mark — moment was quickly converted into an ad by the brand. Sporting the tagline “Some legends play in the moment” – a slow motion scan of the crowd with a fuzzy Woods in the foreground ends on Mark.
Cardi B Sparks Playboy’s Profits
Last December, Cardi B was appointed as the creative director of Playboy. At the time, Boardroom’s Ian Stonebrook observed that the pairing was as natural as Jordan and Nike. The Bronx rapper has already shown an outsized impact on the company, which posted 63% year-over-year growth in the first quarter. The company also saw a spike in direct-to-consumer revenue, which grew an astounding 125% to $49.6 million.
NFL Launches New Program to Diversify Sports Medicine Pipeline
The NFL is investing in the future of the medical profession. The league announced a new initiative on Thursday through which it will work directly with the medical schools at four HBCUs to encourage diversity in the sports medicine and sports training fields and will feature an inaugural class of 16 students, set to expand in 2023. As part of the program, students will work alongside team doctors and medical staff to learn on the field.
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