Another major artist has sold the rights to her songs. As reported by “Billboard”, among others, the company Litmus Music has acquired parts of the rights to a total of five of the singer’s albums from Katy Perry (38). Perry is said to have received $225 million, the equivalent of around 210 million euros, for this. This is what anonymous sources the magazine relies on want to know. Litmus Music did not want to reveal any details about the deal.
The agreement concerns the albums “One of the Boys”, “Teenage Dream”, “Prism”, “Witness” and “Smile” released between 2008 and 2020. For example, “Teenage Dream” contains hits such as the song of the same name, “California Gurls” and “Firework”. The deal reportedly includes royalties and music publishing rights. According to Variety, the rights to the recordings themselves belong to Universal Music. The label Capitol Records, on which the albums were released, belongs to the Universal Music Group.
“Katy Perry is a creative visionary who has had a major impact in music, TV, film and philanthropy,” Litmus Music co-founder Dan McCarroll is quoted as saying. He said it was “a great honor to work with her again and help Litmus manage her incredible repertoire.”
In recent years there have been repeated reports of music stars giving away rights to their songs or albums. Justin Bieber (29) sold his rights for around $200 million at the beginning of 2023. Phil Collins (72) and Genesis are said to have received more than $300 million for their catalogs in 2022 and, according to media reports, the Red Hot Chili Peppers secured more than $140 million in 2021. Bob Dylan (82) was said to have earned more than $200 million at the end of 2020.
