LOS ANGELES-Several sources estimate that Katy Perry sold Litmus Music a package of her music rights for $225 million (£182 million). The five albums Perry released for Capitol Records between 2008’s One of the Boys and 2020’s Smile are all included in the transaction, which was revealed on Monday. This features multi-platinum songs including I Kissed A Girl, Firework, Teenage Dream, Hot ‘n’ Cold, and California Gurls. For a single artist this year, it is the largest library deal.
The last title holder was Justin Bieber, who sold his interest in his back catalogue to the UK company Hipgnosis Songs Capital in January for $200 million (£162 million).
Perry’s share of the master recordings and publishing rights for the tracks are now owned by Litmus, which means it will be paid any future royalties the music generates. On Spotify, Dark Horse and Roar, two of her tracks, have had more than one billion streams. With 3.8 billion plays, Roar is one of the most watched videos of all time on YouTube. Despite being a great success in the 2010s, Perry has slowed down recently, focusing on her residency in Las Vegas and starting a family with her partner, the actor Orlando Bloom. Next year, she will also be back as a judge on American Idol for a seventh season.
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