Katy Perry Bags $225 Million By Selling Her Music Rights To Litmus, Marking This Year’s Biggest Deal By A Single Artist! (Photo Credit: Facebook)
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Katheryn Elizabeth Hudson, popularly known as Katy Perry is one of the most recognizable and influential figures in the music industry. She is known for her captivating voice, colourful stage presence, and chart-topping hits. Now the singer has bagged this year’s biggest catalog deal.
Throughout her music career, the pop sensation has delivered a series of chart-topping hits. However, in recent years, Katy Perry has shifted her focus, prioritizing Las Vegas residencies, philanthropic endeavours, and building a family with her partner, actor Orlando Bloom.
In a significant move, Katy Perry has recently sold her music catalogue to Litmus Music, a company co-founded by former Capitol Records president Dan McCarroll and backed by Carlyle, for a staggering $225 million, as per latest reports from Variety. This comprehensive deal encompasses Perry’s ownership interests in both master recordings and publishing rights for her five albums spanning from 2008 to 2020, which include “One of the Boys,” “Teenage Dream,” “Prism,” “Witness,” and “Smile.” This announcement follows months of swirling speculations and discussions.
It’s important to note that Universal Music Group still retains ownership of the master recordings for Katy Perry’s albums. Litmus Music, which was launched in the summer of 2022, made a significant acquisition in December by securing the rights to Keith Urban‘s master recordings.
In a parallel development, reports emerged in January revealing that Justin Bieber had entered into a substantial nine-figure deal with Blackstone-backed Hipgnosis Songs Capital (HSC) for the rights to his extensive catalogue. The Wall Street Journal had previously estimated the Hipgnosis/Bieber deal to be valued at approximately USD $200 million, encompassing both publishing and master royalty income for the acclaimed singer.
Katy Perry’s music transcends genres, blending pop, rock, and electronic elements, and her thought-provoking lyrics often resonate with a global audience. Perry’s journey to stardom began in the mid-2000s when she released her debut album, “Katy Hudson.” However, it was her second album, “One of the Boys,” released in 2008, that catapulted her into the mainstream music scene with hits like “I Kissed a Girl” and “Hot n Cold.” Since then, she has consistently produced chart-topping albums, including “Teenage Dream,” “Prism,” and “Witness.”
