Katy Perry Liberates Her Music Catalog in a $225 Million Deal!
Litmus Music has made a major announcement, revealing that international pop sensation Katy Perry has sold her music catalog for a remarkable sum of $225 million. Both Variety and Billboard have reported this significant transaction, which includes Perry’s rights to master recordings and publishing for her entire discography, spanning five studio albums released under Capitol Records.
These albums consist of her breakthrough record “One of the Boys,” the chart-topping albums “Teenage Dream” and “Prism,” the thought-provoking “Witness,” and the emotive “Smile.” Together, these albums house Katy Perry’s impressive nine No. 1 hits on the Billboard Hot 100, including iconic tracks like “Firework,” “California Gurls,” and “I Kissed a Girl.”
The deal was facilitated by Litmus, a music rights company co-founded by former Capitol Records president Dan McCarroll. McCarroll expressed his excitement, saying, “Katy Perry is a creative visionary who has left a significant mark in music, TV, film, and philanthropy. I am honored to be partnering with her once again and to assist Litmus in managing her remarkable repertoire.”
Hank Forsyth, Litmus co-founder, also emphasized the cultural importance of Katy’s songs, stating, “Katy’s songs are a vital part of the global cultural tapestry. We are grateful to be working together with such a trusted partner whose integrity shines through in everything she does.”
USA TODAY has reached out to Katy Perry’s representative for a comment regarding this momentous deal. Katy Perry, 38, has been making waves in Las Vegas since late 2021 with her vibrant “Play” concert residency. She is set to conclude her Las Vegas residency in November and will return as a judge on Season 22 of “American Idol.”
Katy Perry is now part of a growing list of renowned artists who have recently sold their music catalogs, joining the ranks of Bruce Springsteen, Justin Bieber, Bob Dylan, Shakira, and Paul Simon. This trend reflects the understanding among artists that the music industry is constantly evolving, and selling their catalogs can provide financial stability and simplify matters for their heirs.
As Lisa Alter, founding partner of Alter Kendrick and Baron, previously noted, “Artists are aware that this may not last forever, and it makes a lot of sense, particularly for those later in their careers. Why not enjoy the financial benefits while you can? It can also create a simpler situation for heirs, who are then simply inheriting money. Younger artists are also looking at this trend, realizing that their work is generating significant income now, so why not capitalize on it?”