Katy Perry sold the rights to her five albums published between 2008 and 2020 with the Capitol Records record label to the Litmus Music company for a value of $225 million, US media reported this Monday.
The new company that owns part of Perry’s repertoire did not make public the financial details of the operation, but reported in a statement that the agreement included the pop star’s original recordings on those five albums and her publishing rights.
The albums that will now be exploited by Litmus Music, a music rights company within the global investment firm Carlyle Groupare: one of the boys (2008), Teenage Dream (2010), PRISM (2013), Witness (2017) and smile (2020).
The Universal Music group will continue to be the owner of the masters of the five albums.
The link between the interpreter of Roar and Litmus Music confirms the comments that have been growing in recent weeks within the industry due to the close professional relationship between the singer and Dan McCarrollnow co-founder and creative director of Litmus Music, from his previous stint as president of Capitol Records.
“I am very honored to partner with her again and help Litmus manage her incredible repertoire. She (..) she is a creative visionary who has had a major impact on music, television, film and philanthropy,” McCarroll said in the statement.
He too Co-founder and CEO of Litmus Music, Hank Forsythdescribed the agreement as “essential” because, in his view, Perry’s themes are already “part of the global cultural fabric.”
Katy Perry is the first woman, and the second artist after Michael Jacksonwhich managed to place five songs on the Billboard historical top in the United States thanks, above all, to its great popularity during the past decade.
With information from EFE
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