Katy Perry Sells Rights To Music Catalog For $225 Million
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Thursday, 21/09/2023,
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Katy Perry has sold a significant portion of her music catalog to Litmus Music for a whopping $225 million. The deal includes the original recordings of five of her albums released between 2008 and 2020, as well as publishing rights. While Litmus Music no
Katy Perry, the 38-year-old California singer, has sold a majority stake in her music catalog to Litmus Music for a staggering $225 million. Litmus Music, a subsidiary of the global investment firm Carlyle Group, now holds the exploitation rights to Perry's original recordings from five of her albums released between 2008 and 2020, as well as her publishing rights. It's worth noting that Universal Music will still retain ownership of the master recordings for these albums, which were released under the Capitol Records label. The albums in question are "One of the Boys" (2008), "Teenage Dream" (2010), "PRISM" (2013), "Witness" (2017), and "Smile" (2020). These albums feature some of Perry's biggest hits, including "I Kissed a Girl" and "Hot n Cold" from her debut album, "California Gurls" and "Firework" from "Teenage Dream," "Roar" and "Dark Horse" from "PRISM," "Swish Swish" and "Hey Hey Hey" from "Witness," and "Daisies" and the titular track from "Smile." However, specific financial details of the deal have not been disclosed. This new partnership between Katy Perry and Litmus Music confirms rumors that have been circulating in the industry for months. It highlights the strong professional relationship between Perry and Dan McCarroll, the co-founder and creative director of Litmus Music. McCarroll previously served as the president of Capitol Records, further solidifying the connection between Perry and Litmus Music. "I am honored to partner with her again and to help Litmus manage her incredible catalog," said McCarroll in a statement. He also praised Perry's creative vision and her impact on music, television, film, and philanthropy through her foundation, Firework Foundation, and her work with UNICEF. Hank Forsyth, the co-founder and CEO of Litmus Music, described the deal as "essential" for both the company and the music industry as a whole. He believes that Perry's songs have become an integral part of global cultural fabric.
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