Famous American singer, Katy Perry, has sold the rights to her entire music catalog in a deal reportedly worth $225 million.
Katy Perry’s music catalogue was acquired by Litmus Music, a subsidiary of The Carlyle Group.
On Monday, September 18, the investment firm Carlyle Group revealed that Litmus Music had acquired the rights to the 38-year-old singer’s songs and albums from the years 2008 until 2020.
The deal includes her stake in her master recordings and publishing rights for all her five albums released through Capitol Records, ‘One of the Boys’ (2008), ‘Teenage Dream’ (2010), ‘Prism’ (2013), ‘Witness’ (2017) and 2020’s ‘Smile’.
Litmus co-founder and CEO Hank Forsyth said,
“Katy’s songs are an essential part of the global cultural fabric. We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”
Matt Settle, managing director at the Carlyle Group, added;
“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
The ‘Teenage Dream’ hit maker is one of an increasing number of well-known musicians who are selling the master recordings of their back discography
In January, Justin Bieber received $200 million from Hipgnosis Songs Capital for selling his portion of his own music rights.
Bob Dylan gave Sony the rights to his complete back catalogue in January 2022, for an unknown sum that was estimated to be worth up to $183 million.
In late 2021, Bruce Springsteen also agreed to sell his music to Sony in a massive transaction estimated to be worth $500 million.