Litmus Music, a catalog rights company, said on Monday that it had acquired the rights to Katy Perry’s five studio albums released for Capitol Records.
Perry has sold her music rights to the private-equity Carlyle-backed company, which was co-founded by former Capitol Records president Dan McCarroll, for $225 million. The deal includes Perry’s stakes in master recordings and publishing rights for the five albums released between 2008 and 2020 — “One of the Boys,” “Teenage Dream,” “PRISM,” “Witness,” and “Smile.”
Litmus Music launched in 2022, with a $500 million investment from Carlyle’s Global Credit Platform, and has its first major acquisition in December, purchasing Keith Urban’s rights to his master recordings.
Perry’s decision to sell her catalog rights follows a 2023 trend of artists like Justin Bieber’s $200 million catalog sale to Hipgnosis Songs Capital.
“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,” McCarroll said in a statement.
Litmus co-founder and CEO Hank Forsyth said “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.”
“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,” managing director at Carlyle, Matt Settle added.
Perry saw massive success throughout her pop music career from the get-go, with her 2008 breakout single “I Kissed A Girl.” The artist had five chart-topping songs from her 2010 album “Teenage Dream.” Perry has secured a total of nine No. 1 songs on the “Billboard” Hot 100.
The pop singer is now slowing her career down, focusing on her Las Vegas residency and raising her family with her partner, actor Orlando Bloom.
The post Katy Perry Sells Music Catalog to Litmus for $225 million appeared first on TheWrap.