Katy Perry Sells Her Music Rights For $225 Million
The lucrative deal is the stuff that “Teenage Dreams” are made of.
Pop star Katy Perry has inked a blockbuster deal to sell the rights to her music catalog for $225 million.
The news of Litmus Music’s acquisition of the “Firework” singer and former Maxim cover star’s music rights was confirmed by parent company The Carlyle Group earlier this week.
Hypebeast reports that the deal includes Perry’s stakes in master recordings and publishing rights for five hit albums, including 16 multi-platinum singles, that she released between 2008 and 2020—One of the Boys, Teenage Dream, Prism, Witness and Smile.
Litmus Music first launched in summer of 2022 and made its first major acquisition in 2022 for Keith Urban’s rights to his master recordings. Over the years, Katy Perry has slowed her career to focus on Las Vegas residencies, philanthropic work and her family, Hypebeast says. Most recently, she performed at the coronation of King Charles III at Westminster Abbey in May.
“We believe this is a testament to the team’s ability to partner with the world’s top artists,” said Carlyle Group managing director Matt Settle. “Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
CEO and co-founder of Litmus Music Hank Forsyth added: “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.”
The Carlyle Group has invested over $3 billion in the sports, media and entertainment space since 2018 and is continuing to look for ways to expand its marketshare.