After much anticipation, Katy Perry has officially sold her music rights to Litmus Music, a company backed by Carlyle. The announcement came on Monday, with sources estimating the deal’s value at $225 million. This acquisition encompasses Perry’s interests in master recordings and publishing rights for her five albums spanning from 2008 to 2020: “One of the Boys,” “Teenage Dream,” “Prism,” “Witness,” and “Smile.” Notably, Universal Music Group retains ownership of the masters for these albums.
Perry’s 2017 single “Chained to the Rhythm” features Skip Marley and the two performed the song at the 59th Annual Grammy Awards and also at the 2017 Brit Awards. The music video for the song has surpassed 700 million YouTube streams and the song surpassed 500 million Spotify streams.
Chain To The Rhythm, released by Capitol Records, is certified double platinum (2,000,000) in the U.S. by the Recording Industry Association Of America (RIAA), and certified gold in the U.K.(400,000), France, Germany, Denmark, New Zealand, platinum in Australia, and triple platinum in Canada.
Katy Perry, once a dominant superstar throughout the 2010s, has recently shifted her focus towards Las Vegas residencies, philanthropic endeavors, and nurturing her family alongside her partner, actor Orlando Bloom.
Litmus Music, established in the summer of 2022, made its inaugural significant purchase in December by acquiring Keith Urban’s master recording rights.
Hank Forsyth, the Co-founder and CEO, said, “Katy’s songs are an essential part of the global cultural fabric. We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”
Matt Settle, Managing Director at Carlyle, remarked, “We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
Since 2018, Carlyle Global Credit, utilizing its Credit Opportunities strategy has deployed over $3 billion in the realms of sports, media, and entertainment. Carlyle Global Credit brings its expertise in structuring tailor-made financial solutions for partners and artists to the table.
