In a long-anticipated move, Katy Perry has finalized music catalog rights to Litmus Music for a whopping $225 million. This company is co-founded by former Capitol Records president Dan McCarroll and backed by Carlyle. The agreement was announced on Monday.
This comprehensive deal encompasses Perry's ownership stakes in both master recordings and publishing rights for her five albums released between 2008 and 2020. This includes the record-breaking Teenage Dream, One of the Boys, Prism, Witness, and her recent one, Smile. Although Universal Music Group still retains ownership of the master recordings for these albums.
As for the next home of Katy Perry's catalog, Litmus Music is fairly new to the industry. It launched in the summer of 2022 and made its mark with a significant acquisition in December of Keith Urban's master recording rights.
Dan McCarroll expressed his honor at partnering with Katy Perry's music catalog.
“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.”
Co-founder and CEO Hank Forsyth echoed this sentiment, emphasizing Katy's songs' essential role in global culture. “Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
Carlyle Global Credit is the key player in the deal and has been actively investing in the sports, media, and entertainment arena. Since 2018, it deployed over $3 billion for partners and artists.
This deal stands as a testament to the team's prowess in forming strategic alliances with the world's leading artists. But this will mark Katy Perry's music catalog's enduring influence on the music industry and popular culture at large.
Follow Us
Subscribe