Singer Katy Perry has sold the music rights to five albums to an investment fund. This concerns the rights to the albums she launched between 2008 and 2020: One of the Boys, Teenage Dream, PRISM, Witness and Smile. This is reported by Litmus Music, a rights company owned by investment company The Carlyle Group.
American media report that the rights have been sold for 225 million dollars, equivalent to around 210 million euros. This would make it one of the largest ‘rights deals’ ever.
Litmus Music calls Katy Perry “a creative visionary” and her music “an essential part of global culture. “Her iconic music has not only been a huge commercial success, it has also significantly influenced pop culture,” says investor CEO Matt Settle Carlyle.
In recent years, major investment companies have increasingly focused on the music rights market. Previously, Justin Bieber, Phil Collins and Genesis, Sting and Justin Timberlake, among others, sold the rights to their music to investment companies for many millions.
- Justin Bieber sells music rights for a mega amount
- ‘Phil Collins and Genesis sell music rights for 300 million’
- Justin Timberlake sells music rights ‘for more than $100 million’