LOS ANGELES, CALIFORNIA: Katy Perry's music rights have been sold to Litmus Music, which was set up in 2022 by Hank Forsyth and Dan McCarroll. The Carlyle-backed company, which has offices in Los Angeles and New York, announced the news on Monday, September 18, per Linkedin.
Perry's agreement comes after months of speculations, with numerous sources putting the sale price of her catalog at $225 million.
Perry has reportedly slowed her career after years as a major sensation in the 2010s, to devote herself to residencies in Las Vegas, philanthropic endeavors, and growing a family with her partner, Orlando Bloom, per Variety.
What does the Katy Perry deal include?
The agreement covers Perry's ownership of the publishing and master recording rights for the five albums she put out between 2008 and 2020: 'One of the Boys', 'Teenage Dream', 'Prism', 'Witness', and 'Smile'.
The masters for the albums are still under Universal Music Group's ownership, per Variety.
What did Litmus Music owners say about partnering with Katy Perry?
Litmus was founded in the summer of 2022 and made its first large acquisition the following December, purchasing Keith Urban's master recordings rights.
McCarroll claimed, "Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy. I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire."
Co-founder and CEO Hank Forsyth stated, "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."
They feel this demonstrates the team's capacity to collaborate with the world's finest artists. Katy's classic songs have not only achieved exceptional commercial success but have also had a tremendous impact on popular culture, according to Matt Settle, Managing Director at Carlyle.
