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Katy Perry Sells Music Catalog for a Whopping $225 Million !

Wednesday, September 20, 2023 • Tamil Comments
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Catalog rights firm Litmus Music said then that it acquired the music rights to Katy Perry’s five studio albums, released under Capitol Records.

Katy Perry has tied up a deal to sell off her music rights to Litmus Music, a company backed by private equity firm Carlyle, for a whopping $225 million. Perry’s five album releases between 2008 and 2020—"One of the Boys," "Teenage Dream," "PRISM," "Witness," and "Smile"—will be part of this sale.

Litmus Music, launched in 2022 with a $500 million investment from Carlyle’s Global Credit Platform, made its first big acquisition early in the year by picking up Keith Urban’s master recording rights.

Perry’s decision to sell the rights to her catalog is in line with other artists this year making similar moves, including Justin Bieber selling his catalog, with that sale reported at $200 million with Hipgnosis Songs Capital.

Dan McCarroll, co-founder of Litmus Music and former president of Capitol Records, said, "Katy Perry is a creative visionary who has made a much-welcome impact across music, TV, film, and philanthropy. I’m thrilled to be working with her again and to see Litmus manage her incredible repertoire."

Hank Forsyth, Litmus’ CEO and co-founder, praised Katy Perry for her cultural impact and spoke on the company’s relationship, while Matt Settle, Carlyle’s managing director, said, "We are thrilled to have the opportunity to work alongside best-in-class artists."

Katy Perry had an epic music career, starting with her blockbuster single "I Kissed a Girl" in 2008. Her 2010 album "Teenage Dream" was a mega-hit, spawning five multi-week No. 1 singles, and she has nine No. 1’s on the "Billboard" Hot 100.

In recent years, the pop queen has started to focus more on a Las Vegas residency and is happily reveling in family life alongside her boyfriend, Orlando Bloom.

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