Katy Perry just made a massive music deal.
Litmus Music, a catalog rights company backed by private-equity group Carlyle Group LP, confirmed that it acquired the rights to Katy’s five studio albums released for Capitol Records, via Billboard on Monday (September 18).
Litmus reportedly paid $225 million for Katy’s stake in the master recording royalties and music publishing rights to her five albums released between 2008 and 2020: One of the Boys, Teenage Dream, PRISM, Witness and Smile.
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Katy remains the first woman and only second artist ever, after Michael Jackson, to send five songs from the same album to the top of the Hot 100: “California Gurls,” “Firework,” “E.T.,” “Last Friday Night (T.G.I.F.)” and “Teenage Dream.”
Dan McCarroll, Litmus co-founder and chief creative officer, was once president of Capitol Records, so he’s had a working relationship with Katy for over a decade.
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy. I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire,” he said in a statement, via Billboard.
Litmus has acquired publishing and recording rights of artists like Keith Urban and Benny Blanco.
Hank Forsyth, Litmus co-founder and chief executive officer, said Katy‘s “essential” songs are “part of the global cultural fabric.”
“We are so grateful to be working together again with such a trusted partner,” he said.
“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture,” added Matt Settle, managing director at Carlyle.
Justin Bieber similarly just sold his music in a multi-million dollar deal.
via Source
