Singer Katy Perry sold the rights to her music catalog to Litmus Music for 225 million.
The sale covers the rights to the American artist’s five studio albums, released between 2008 and 2020, including her 16 platinum-certified singles.
The Litmus Music company, which specializes in the purchase and management of music rights, was founded by the president of the Capitol Records record company, Dan McCaroll. The agreement between the California Gurls singer and Litmus “is anchored in the long-standing working relationship between” McCaroll and the singer, explains in a press release the Carlyle Group, a private equity firm which finances Litmus.
The “creative partnership” between the two parties is part of a trend in recent years which has seen several still active artists amass hundreds of millions of dollars by entrusting their catalog to specialized companies. Justin Bieber, Bruce Springsteen and Sting have all recently made lucrative deals selling the rights to their songs.
“Katy Perry is a creative visionary who has made a major impact in music, television, film and philanthropy,” Dan McCarroll of Capitol Records said via Carlyle Group release. “I’m honored to partner with her again and help Litmus curate her incredible repertoire. »
