Katy Perry sells back catalogue for $225million

nme.com:

Katy Perry has sold the rights to her music, for a reported $225million (£180.5million).The deal comes after months of rumours alleging that the American pop star was underway with the process of selling her catalogue, and sees Perry transfer the rights to her music over to Litmus Music.The company is co-founded by former Capitol Records president Dan McCarroll, and the deal was completed today (Monday, September 18) for a reported £225million (£180.5m).It covers the master royalty income and publishing rights for five of the albums the 38-year-old released between 2008 and 2020.

These include ‘One Of The Boys’ (2008), ‘Teenage Dream’ (2010), ‘PRISM’ (2013), ‘Witness’ (2017) and her latest studio LP ‘Smile’, which was released back in 2020.The company that purchased the music rights is also co-founded by Hank Forsyth with Carlyle Global Credit, and has previously purchased the back catalogue from both Keith Urban and Benny Blanco since its launch last summer.“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy.

I’m so honoured to be partnering with her again and to help Litmus manage her incredible repertoire,” McCarroll said in a statement discussing the sale (via Variety).Forsyth, the co-founder and CEO agreed, adding: “Katy’s songs are an essential part of the global cultural fabric.

We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”Perry is far from the first artist to have sold the rights to their music in recent years.Tina Turner sold her back catalogue for $300million (£225m) back in October 2021, while Sony Music acquired Bob Dylan‘s entire body of work the following year.