Katy Perry Has Sold the Rights to Her Music for $225 Million
It seems like Katy Perry is living out her teenage dreams.
The pop star has sold her music rights to Litmus Music for an estimated $225 million, Hypebeast reported on Tuesday. The deal includes five albums that Perry released from 2008 to 2020: One of the Boys, Teenage Dream, Prism, Witness, and Smile. Together, those records include 16 multiplatinum hits.
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“Katy’s songs are an essential part of the global cultural fabric,” Hank Forsyth, the co-founder and CEO of Litmus Music, said in a statement. “We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”
Perry’s sale to Litmus Music includes her stakes in master recordings and publishing rights for the five albums, Hypebeast noted. Universal Music Group will continue to own the masters for those albums.
Originally, the “Firework” singer released her albums with Capitol Records, which is how she first met Dan McCarroll, the co-founder and CCO of Litmus Music. Starting in 2010, McCarroll served as the president of Capitol Records, but in the summer of 2022 he launched Litmus alongside Forsyth.
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy,” McCarroll said in a statement. “I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire.”
Over the past few years, Perry has stepped away from the recording studio to prioritize Las Vegas residencies, philanthropy, and her family, Hypebeast wrote. Most recently, she performed at the coronation of King Charles III (she became an ambassador for one of the king’s charities back in 2020).
As for Litmus Music, the upstart company made its first major acquisition at the end of last year, when it bought Keith Urban’s rights to his master recordings. Teaming up with Perry adds another big-name star to the group’s stable of talent.
“We believe this is a testament to the team’s ability to partner with the world’s top artists,” Matt Settle, the managing director at the Carlyle Group, which backs Litmus, said in a statement. “Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
The price paid for those songs seems to acknowledge that success.
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