Litmus Music said Monday it purchased the rights to Katy Perry’s catalog for a jaw-dropping $225 million price tag.
The deal includes rights to Perry’s most popular songs that topped the charts, including 2010’s “Teenage Dream,” according to Billboard. Litmus Music is a catalog rights company that is backed by private-equity firm Carlyle Group LP. The deal included the acquisition of the rights of the five studio albums Perry released for Capitol Records between 2008-2020. The deal was finalized earlier this year, but news of the big transaction has only now surfaced.
Katy Perry has sold a bundle of her music rights to Litmus Music, with multiple sources pricing the deal at $225m. The sale covers all 5 albums Perry released from 2008 to 2020.
The deal will not include any of Perry’s forthcoming music, which she teased was coming soon. pic.twitter.com/ccDewLQO7N
— Breakfast Television (@breakfasttv) September 19, 2023
The five albums that were part of the deal are “One of the Boys,” “Teenage Dream,” “PRISM,” “Witness” and “Smile,” according to Billboard. The exact terms of the agreement between Perry and Litmus have not been revealed at this time.
Perry’s breakout single “I Kissed A Girl,” was released in July 2008 and rose to the top of the charts. A total of five songs from her 2010 album, “Teenage Dream,” ranked at the top of the music charts, and the artist has clinched a total of nine No. 1`s on the Billboard Hot 100. Her success came at an unlikely time, when the competition in the female pop star category was fierce.
Perry’s music was up against that of Lady Gaga, Beyonce and Taylor Swift, as well as Adele and Rihanna, who also released chart-topping hits at the same time.(RELATED :Justin Bieber Sells Rights To His Entire Catalogue For Astounding Figure)
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Perry’s success was unprecedented, and she remains the first woman and only the second artist ever to have five songs from the same album soar to the Hot 100. Michael Jackson was the first person to achieve this honor, according to Billboard.
“California Gurls,” “Firework,” “E.T.,” “Last Friday Night (T.G.I.F.)” and ‘Teenage Dream,” were Perry’s biggest hits enveloped in the deal with Litmus.