Katy Perry sells music catalog: Katy Perry Sells Her Music Catalog for $225 Million: A Trend Among Music Superstars.
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In a recent development in the music industry, pop sensation Katy Perry made headlines by selling her extensive music catalog for a staggering $225 million.
The deal, announced by Litmus Music on Monday, includes Perry’s stakes in both master recordings and publishing rights for her five studio albums released under Capitol Records.
This move makes Katy Perry the latest in a growing list of music superstars who have chosen to monetize their musical legacies by selling their catalogs.
The Deal Details
Litmus Music, a rights-management company backed by the investment firm Carlyle Group, acquired Katy Perry’s catalog, although the exact amount they paid remains undisclosed.
The deal encompasses her hits from iconic albums such as “One of the Boys,” “Teenage Dream,” “Prism,” “Witness,” and “Smile.”
These albums feature Perry’s nine No. 1 hits on the Billboard Hot 100, including chart-toppers like “Firework,” “California Gurls,” and “I Kissed a Girl.”
Katy Perry’s Rise to Fame
Katy Perry’s journey to stardom began in 2008 with her breakthrough hit “I Kissed a Girl,” which dominated the charts for an impressive seven weeks, according to Billboard.
Over the years, she solidified her position as a pop music icon and even performed during the Super Bowl halftime show in 2015.
In recent years, she has been a judge on the music competition show “American Idol” and has been entertaining audiences with her Las Vegas residency at the Resorts World hotel and casino since 2021. Her most recent album, “Smile,” was released in 2020.
The Growing Trend of Catalog Sales
Katy Perry‘s decision to sell her music catalog aligns with a growing trend among music artists, both established and emerging.
Notable artists such as John Legend, Bruce Springsteen, Bob Dylan, Shakira, and Paul Simon have all made headlines by selling their music rights for substantial sums.
Earlier in the year, pop sensation Justin Bieber also joined this trend by selling his music rights to Blackstone-backed Hipgnosis, with an expected value of approximately $200 million, as reported by The Wall Street Journal.
Benefits and Considerations
The motivation behind these catalog sales varies from artist to artist. For some, it represents an opportunity to capitalize on the income generated by their music while ensuring financial security for themselves and their heirs.
Younger artists are also taking note of this trend, considering selling their catalogs while their work is at its peak.
These transactions allow buyers to collect revenue generated by the music on streaming platforms and through its use in commercials, video games, and other media.
Katy Perry’s $225 million catalog sale reflects the evolving landscape of the music industry, where artists are increasingly choosing to monetize their musical legacies.
As the latest music superstar to make this move, she joins a roster of A-list singers who have made multimillion-dollar deals for their music rights.
This trend not only provides financial security for artists but also allows them to simplify the financial situation for their heirs.
With the music industry continually evolving, these catalog sales are likely to remain a prominent feature in the careers of many more artists in the future.
FAQs: Katy Perry sells music catalog
How much did Katy Perry sell her catalog for?
Pop star Katy Perry has successfully sold her music catalog to Litmus Music, a subsidiary of The Carlyle Group, as confirmed by FOX Business.
In the recent announcement made on Monday, it was revealed that the deal encompasses Perry’s entire discography, consisting of her five studio albums recorded under Capitol Records from 2008 to 2020.
Who sold their music catalog for the most?
Top 10 most expensive back catalogues
Artist/Songwriter Reported Sale Price (Millions of $) Years in Industry
1 Bruce Springsteen 500 58
2= Phil Collins & Genesis 300 55
2= Bob Dylan 300 61
2= Tina Turner 300 53
5=David Bowie 250 54
5=Sting 250 51
7=Justin Bieber 200 13
7=Ryan Tedder 200 26
8=Motley Crue 150 38
8=Neil Young 150 59
Who sold their music catalog 2023?
Joining the ranks of pop stars who have entered into lucrative rights deals, Justin Bieber has recently made headlines by selling the rights to his publishing and artist royalties for his song catalog.
This significant transaction was confirmed by Hipgnosis, the music rights investment company, in an announcement made on Tuesday.
How many records has Katy sold?
Over the course of her illustrious career, Katy Perry has achieved remarkable success, with a staggering 48 million album units and an astounding 135 million singles sold globally.
This outstanding achievement solidifies her position as one of the best-selling music artists in history.