Singer Katy Perry has sold her music catalog to Litmus Music, a subsidiary of The Carlyle Group.
via: Complex
The “Dark Horse” singer struck a deal with the Carlyle-backed company on Monday, and sources say she walked away with a cool $225 million. Perry’s rights to master recordings and publishing for albums released between 2008 and 2020 (One of the Boys, Teenage Dream, Prism, Witness, and Smile) are included in the deal.
The $225 million sale of Perry’s catalog is the biggest deal for a solo artist this year. Justin Bieber previously held the record when he sold his back catalog for $200 million in January.
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy,” Litmus co-founder Dan McCarroll said in a press release. “I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire.”
Hank Forsyth, Litmus co-founder and CEO, added, “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.”
The purchase of music rights has been picking up momentum especially in the rap industry. Artists such as Dr. Dre ($200 million), Metro Boomin ($70 million), Nelly ($50 million), and more have sold portions of their catalogs.
In the summer of 2022, Irv Gotti reportedly sold 50 percent ownership stake of Murder Inc.’s masters for a whopping $300 million. He also received additional funding for future media projects, including TV shows and feature films.
