Katy Perry has sold a bundle of her music rights to Litmus Music, with several sources valuing the deal at $225 million (£182 million).
The sale, announced Monday, covers all five albums Perry has released for Capitol Records, from 2008’s One of the Boys to 2020’s Smile.
This includes multi-platinum hits like Firework, Teenage Dream, Hot ‘n’ Cold, California Gurls and I Kissed A Girl.
This is the largest catalog deal for a single artist this year.
Justin Bieber was the previous holder of the title, having sold his stake in his catalog to British company Hipgnosis Songs Capital in January for $200 million (£162 million).
Litmus now owns Perry’s interest in the master recordings and record publishing, meaning she will receive all future royalties the music earns.
Two of his songs – Dark Horse and Roar – have been streamed over a billion times on Spotify. Roar is also one of the most viewed videos of all time on YouTube, with 3.8 billion plays.
A major star of the 2010s, Perry has slowed down her work rate in recent years, focusing on her Las Vegas residency and raising a family with her partner, actor Orlando Bloom.
She will also return for her seventh season as a judge on American Idol next year.
“His integrity shines”
Litmus Music is a company co-founded by former Warner Music and Capitol Records chairman Dan McCarroll and funded with $500m (£404m) by The Carlyle Group.
According to a press release, the agreement with Perry is rooted in McCaroll’s “long-standing working relationship” with the singer when they were both at Capitol Hill.
Hank Forsyth, co-founder and CEO of Litmus, said: “Katy’s songs are an essential part of the global cultural fabric. We are very grateful to be working together again with such a trusted partner whose integrity shines in everything they do. »
The company previously acquired Keith Urban’s rights to his master recordings and a “portfolio” of tracks by songwriter Benny Blanco, who has worked with Ed Sheeran, The Weeknd, Rihanna and Britney Spears.
Acquiring music rights has been a booming business in recent years, with artists such as Bob Dylan, Neil Young, Shakira, Debbie Harry and Justin Timberlake forgoing future royalties for initial nine-figure sums.
