When did Katy Perry sell her music catalog rights? Details of the $225M deal explored

Katy Perry is one of the biggest pop stars in the current generation, with multiple Grammy nominations and a barrage of chart-busting hits. The songstress first made her mark with the 2008 hit I Kissed A Woman, and has sold over 143 million albums to date.

In September 2023, Katy Perry joined juggernauts like Bob Dylan, David Bowie, and others, by selling the rights to her music and earning millions. The rights were acquired by Litmus Music, a company founded by Capitol Records president Dan McCarroll, for an estimated price of $225 million.

Katy Perry's deal with Litmus Music includes her five studio albums released between 2008 and 2020 - One of the Boys, Prism, Teenage Dream, Smile, and Witness. However, the master recordings of the albums are still owned by Universal Music.

Speaking about Katy Perry, with whom he shares a longstanding relationship, McCarroll said in a statement after the acquisition:

“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.” (via Variety)

Litmus co-founder and CEO Hank Forsyth also expressed gratitude to have gotten the opportunity to work with Katy Perry. He described her songs as "essential and part of the global fabric."

“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,” added Matt Seattle, Managing Director at Carlyle - the company that backs Litmus music.

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Who else has sold their musical rights to companies besides Katy Perry?

David Bowie On Set of "Jump They Say" Music Video - Source: Getty (Photo by Lester Cohen/Getty Images)

David Bowie was the first known musician to make the move, striking a deal with Prudential Insurance Company of America in 1997. Called the Bowie Bonds, the deal instantly made him a financial powerhouse as he earned a reported £44 million by selling the rights to all his hits before 1990.

In 2020, Bob Dylan sold his music catalog to Universal Music for a reported price of £322 million. The Nobel Laureate earned a further £161 million by selling the master recordings to Sony.

Justin Bieber also decided to sell the rights of his music recorded before December 2021 for an estimated £162 million. Other veterans who have followed the trend in recent times include Timberland, Shakira, Justin Timberlake, Iggy Azalea, Neil Young, Manilow Blondie, Stevie Nicks, Chrissie Hynde, the Beach Boys, and Sting.

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Taylor Swift, Pink Floyd, and others who have held on to their music

Taylor Swift | The Eras Tour - London, UK - Source: Getty (Photo by Gareth Cattermole/TAS24/Getty Images for TAS Rights Management )

Taylor Swift, Alice Cooper, and the band Pink Floyd are some of the major artists in the industry who have turned down lucrative offers to be able to own their life's work. Taylor Swift famously re-recorded new versions of her chartbusters that were acquired by former manager Scooter Brawn when he bought Big Machine Records in 2019.

Meanwhile, Alice Cooper once accepted that he turned down multi-million dollar offers to save his life's work and pass them on to his children. The famous band Pink Floyd was rumored to sell their entire repertoire of works for a whopping £403m, but the deal never went through because of alleged disagreements among the band members.