‘Teenage Dream’, ‘One of the Boys’, ‘PRISM’, ‘Witness’ and ‘Smile’ are the albums that are part of the deal
Singer Katy Perry signed an agreement for sell the rights from five of his studio albums released between 2008 and 2020, inclusive Teenage dream, for Carlyle-backed Litmus Music, the music rights company said on Monday.
A scoreboard reported that the deal was valued at $225 million, more than R$1 billion at the current price. Private equity firm Carlyle declined to comment on the value of the deal.
One of the guys, PRISM, witness AND Smile it’s the other four studio albums that are part of the deal. The five studio albums were released under the singer’s contract with Capitol Records, whose former president Dan McCarroll is the co-founder of Litmus Music.
In recent years, Hipgnosis Songs and other investment firms, backed by Blackstone, have acquired music catalogs from artists including Justin Bieber and Bob Dylan, as the rise of streaming has turned their music into a reliable source of revenue.
With Perry, Litmus Music has access to an artist who rose to fame in July 2008 with the song I kissed a girl and has received 13 Grammy nominations and five MTV Video Music Awards.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
