Katy Perry sold the music rights to her albums to Litmus Music, founded by former Capitol Record president Dan McCarroll, for $225 million. Rumors about the deal have been circulating for some time, and confirmation came on Monday, September 18, directly from Litmus Music. The agreement includes all of Katy Perry’s interests in the music rights to five albums released between 2008 and 2020: One of the boys, Teenager’s dream, Prism, Witness AND Smile. Album masters remain the property of Universal Music.
The decision follows a slowdown in record production that Katy Perry had already begun some time ago, focusing instead on a series of Las Vegas residencies and charitable commitments, as well as her family. For Litmus, a very young company that just turned one year old, this is another big acquisition after the one involving the rights to Keith Urban’s recordings.
Katy Perry is the singer with the most diamond-certified singles.
“Katy Perry is a creative visionary who has had a major impact on music, television, film and philanthropy,” McCarroll said. I am honored to work with her again and help Litmus manage her incredible repertoire.” Litmus co-founder and CEO Hank Forsyth added: “Katie’s songs are an integral part of the global cultural industry. We are grateful for the opportunity to once again work alongside such a trusted partner whose integrity shines through in everything they do.”