Katy Perry, the renowned pop sensation, has finalized the sale of her music rights to Litmus Music for a staggering $225 million (£180 million). The deal, which has been the subject of speculation for several months, includes Perry’s interests in both master recordings and publishing rights for her five critically acclaimed albums from 2008 to 2020.
Litmus Music, co-founded by former Capitol Records president Dan McCarroll and backed by The Carlyle Group, has established itself as a prominent player in the music industry by specializing in acquiring and managing both publishing and recorded music rights. The company’s notable debut acquisition was the rights to Keith Urban’s master recordings.
The California Gurls hitmaker’s decision to sell her music rights signifies a significant milestone in her career. Her catalog, consisting of albums such as “One of the Boys,” “Teenage Dream,” “Prism,” “Witness,” and “Smile,” has made an indelible mark on the music landscape and continues to resonate with audiences worldwide.
In recent years, Katy Perry has intentionally slowed her music career, opting to focus on endeavors such as Las Vegas residencies, philanthropic initiatives, and building a family with her longtime partner, Orlando Bloom.
Speaking on the partnership, Dan McCarroll remarked, “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.”
Hank Forsyth, Co-founder and CEO of Litmus Music, expressed gratitude for the collaboration, stating, “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 she does.”
Katy Perry’s decision to entrust her musical legacy to Litmus Music marks a pivotal moment in the evolving landscape of music rights acquisitions. It demonstrates the enduring value of her artistic contributions to the industry.