Pop sensation Katy Perry has made headlines with a groundbreaking music rights deal, selling a substantial portion of her catalogue to Litmus Music for an estimated $225 million (£182 million).
The announcement of this lucrative sale, made on Monday, encompasses all five of Perry’s albums released under Capitol Records. This impressive discography spans from her 2008 debut “One of the Boys” to her 2020 offering “Smile.”
The deal encompasses some of Perry’s most iconic multi-platinum hits, including chart-toppers like “Firework,” “Teenage Dream,” “Hot ‘n’ Cold,” “California Gurls,” and the sensational “I Kissed A Girl.”
This transaction marks the most significant catalogue deal for a single artist thus far this year, surpassing Justin Bieber’s previous record. In January, Bieber made headlines by selling his stake in his back catalogue to the UK-based Hipgnosis Songs Capital for a staggering $200 million (£162 million).
With this agreement, Litmus Music assumes ownership of Perry’s share in the master recordings and publishing rights for these remarkable albums, positioning them to collect future royalties from Perry’s celebrated music.
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Katy Perry’s influence extends well into the digital realm, with two of her tracks, “Dark Horse” and “Roar,” amassing over one billion streams on Spotify. Notably, “Roar” stands as one of the most-watched videos of all time on YouTube, boasting a remarkable 3.8 billion plays.
While Perry undeniably shone as a major star throughout the 2010s, her recent career trajectory has seen a shift in focus. She has devoted her energies to a successful Las Vegas residency and the joys of motherhood alongside her partner, actor Orlando Bloom. Moreover, fans of the artist can anticipate her return for the seventh season of “American Idol” as a judge next year.
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