Multi-award-winning singer and songwriter Katy Perry has just sold her music catalogue for a whopping 225 million dollars!
Guys that translates to over Sh.33 billion! Uhm, excuse me while my untalented self goes to cry in the corner.
I guess the 38-year-old American Idol judge is no longer changed to the rhythm... see what I did there?
News of Katy selling her catalogue was made public by the Carlyle Group investing firm. The firm announced that the “Firework” hitmaker had sold the rights to her songs and albums released between 2008 and 2020 to Litmus Music for a reported $225m.
According to Deadline and Billboard, the deal includes Katy’s stakes in master recordings and publishing rights to her five studio albums released through Capitol Records – One of the Boys (2008), Teenage Dream (2010), Prism (2013), Witness (2017) and Smile (2020) – which feature 16 multi-platinum singles.
Those albums feature Katy’s nine No. 1 hits on the Billboard Hot 100, including "Firework," "California Gurls" and "I Kissed a Girl."
Litmus co-founder and CEO Hank Forsyth speaking about the sale said;
“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,"
Carlyle's managing director Matt Settle speaking on the same said;
"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,”
Katy who also doubles as an actress is among a growing number of artists to sell the master recordings of their back catalogue.
Canadian singer Justin Bieber sold his share of his own music rights to Hipgnosis Songs Capital for a reported fee of $200m (Sh.24.8 billion)