Star deal for Katy Perry, which has sold the music rights to five of its six albums released so far. The 38-year-old Californian, born Katherine Elizabeth Hudson, just sold her entire album catalog for $225 million (just under 221 million euros) by transferring rights to the fund Litmus musica company owned by Carlyle Global Credit.
“Katy Perry is alone” creative visionary who has had a major influence in the fields of music, television, film and philanthropy. “I am honored to collaborate with her again and help Lymus manage her incredible repertoire,” said the record company executive. Dan McCarrollco-founder of Litmus.
This isn’t the first time a pop star has decided to give up her rights: this happened with Bruce Springsteen, Sting AND Phil Collins with the album Genesis: both singers earned $300 million. But not only. This is what they are other stars who did it and why.
Rights to 5 albums: that’s what they are
The Gold Agreement includes master recordings and publishing rights to five albums Katy Perry recorded between 2008 and 2020 and released with Universal Music Group. Hits that the singer recorded 100 million copies sold. This: One of the boys (2008), Prism (2013), Witness (2017), Smile (2020)e Teenager’s dreaman album that earned the singer a Grammy nomination in 2010.
A big blow for the singer, who, having reached the peak of success in 2010, then increasingly devoted herself to charity work and life with her actor partner. Orlando Bloomwith whom he has been in a relationship since 2019.
What do we know about litmus
There Litmus music was launched in the summer of 2022 by the company Hank Forsyth and Dan McCarroll, two big names in the American music industry. The goal was to make the most of royalties in the streaming era. The impetus for the project was an alliance with Carlisle Global Credit.
The first major acquisition occurred in December last year, when it was bought by Litmsu.
That rights to Keith Urban on his master recordings. The company’s headquarters are located in New York and capital 500 million dollars.
“Katie’s songs are one integral part of the cultural fabric Global. We are very grateful to once again be working alongside such a trusted partner whose integrity shines through in everything they do. We believe this is a testament to the team’s ability to collaborate with the best artists in the world,” said Litmus co-founder and CEO. Hank Forsythe.