Katy Perry has bought a bundle of music rights to $500 million-backed Litmus Music.
The deal spans Perry’s 5 studio albums recorded for Capitol Information, together with the Grammy-nominated Teenage Dream.
Litmus now owns the artist’s stake in her grasp royalty revenue and her publishing rights to the albums One of many Boys, Teenage Dream, PRISM, Witness and Smile – all launched between 2008 and 2020
Common Music Group continues to personal and/or management the grasp rights to the Capitol albums.
Litmus’ cope with Katy Perry, which trade sources recommend was price round $225 million, marks this 12 months’s greatest catalog cope with a single artist.
In January, we reported that Justin Bieber had agreed to promote a career-spanning catalog to Blackstone-backed Hipgnosis Songs Capital (HSC) in a nine-figure deal. The Wall Avenue Journal reported in December that the Hipgnosis/Bieber deal can be price round USD $200 million.
Bieber’s deal additionally included his publishing plus grasp royalty revenue.
Litmus Music arrived final summer time, when music trade veterans Hank Forsyth and Dan McCarroll teamed up with Carlyle World Credit score to launch the brand new enterprise.
New York-based Litmus stated that it could concentrate on buying and managing each publishing and recorded music rights, with Carlyle World Credit score committing an preliminary $500 million to take action.
Litmus Music’s first deal adopted in December 2022 within the type of Keith City’s grasp recordings catalog, together with ten multi-platinum, platinum or gold-certified studio albums and a biggest hits compilation.
In June, Litmus acquired a “portfolio of compositions” from songwriter and producer Benny Blanco, protecting what it says are “quite a few multi-platinum hits and a whole lot of songs”.
“Katy Perry is a inventive visionary who has made a serious impression throughout music, TV, movie, and philanthropy,” McCarroll stated, as reported by Billboard. “I’m so honored to be partnering along with her once more and to assist Litmus handle her unimaginable repertoire.”
In the identical report, Hank Forsyth, Litmus co-founder and chief govt officer, added: “We’re so grateful to be working collectively once more with such a trusted companion.”
Music Enterprise Worldwide