Katy Perry's Music Rights Sale: An Overview
From the catchy lyrics of "I Kissed A Girl" to the energetic beats of "Firework," Katy Perry has undoubtedly marked her presence in the global music scene. This week, the world learned that Litmus Music has acquired a bundle of Katy Perry's music rights, a deal estimated to be a whopping $225m (£182m).
Background on Katy Perry’s Career Perry's journey began with her debut album, "One of the Boys," released in 2008 under Capitol Records. Over the years, she gifted the world with chart-toppers and mesmerizing tunes.
Albums Included in the Deal This sale encompasses all five albums Perry has released through Capitol Records, with hits from "One of the Boys" to 2020's "Smile."
Details of the $225m Deal
What makes this sale extraordinary? It stands as the most significant catalogue deal for a single artist in 2021. Comparatively, earlier this year, Justin Bieber transferred his music rights stake to UK's Hipgnosis Songs Capital for $200m (£162m).
Hits that Boosted the Deal Value
While many of her songs have been chart-toppers, two tracks stand out: "Dark Horse" and "Roar." These songs alone have garnered more than a billion streams on Spotify. And "Roar"? It's not just a song; it's a sensation on YouTube with a staggering 3.8 billion views.
Katy Perry’s Current Focus
Having dominated the 2010s, Perry has recently shifted her focus. Nowadays, she dedicates her time to her Las Vegas residency, family life with Orlando Bloom, and judging on American Idol.
Insight on Litmus Music
Ever wondered about the giants behind these monumental deals? Litmus Music is a venture spearheaded by former presidents of Warner Music and Capitol Records, Dan McCarroll, with The Carlyle Group backing it with $500m (£404m) funding.
Praise for Perry from Litmus
Hank Forsyth, Litmus co-founder and CEO, commended Perry, stating, "Katy's songs are an essential part of the global cultural fabric." Their past collaboration at Capitol led to the success of this deal.
A Glimpse at Previous Acquisitions by Litmus
Litmus isn’t new to blockbuster deals. They previously secured Keith Urban’s rights and tracks by Benny Blanco, known for collaborating with stars like Ed Sheeran and Rihanna.
Trend of Music Rights Acquisitions
In recent times, this trend of music rights acquisitions has gained momentum. Icons like Bob Dylan and Justin Timberlake have chosen immediate financial gain over future royalties.
The music industry is ever-evolving, and Katy Perry's recent sale exemplifies this. As artists seek immediate financial security and companies like Litmus recognize the value of timeless tracks, these music rights deals are set to redefine the landscape of the music world. It's not just about the present hits; it's about ensuring these songs continue to resonate and generate revenue for generations to come.
Which albums of Katy Perry are included in the Litmus deal?
- All five albums released under Capitol Records, from "One of the Boys" to "Smile."
How does Katy Perry's deal compare to other recent music rights sales?
- It's the most significant single artist deal this year, surpassing Justin Bieber's $200m deal.
Who are the co-founders of Litmus Music?
- Former Warner Music and Capitol Records president, Dan McCarroll, and CEO Hank Forsyth.
Why are music rights sales becoming popular?
- They offer artists immediate financial benefits and companies the potential for long-term revenue from iconic tracks.
What are some of Katy Perry's most streamed songs?
- "Dark Horse" and "Roar" both have over a billion streams on Spotify.