Sunday, October 1, 2023

Katy Perry sells her songs for 225 million dollars

The Litmus Music company bought the catalog of the American singer Katy Perry for 225 million dollars (337 million Canadian dollars).

The agreement includes the artist’s five albums, released between 2008 and 2020: One of the Boys, Teenage Dream, Prism, Witness and Smile. The album’s master tapes remain the property of Universal Music Group.

Copyright or master tapes?

The composition (music) and writing (lyrics) rights to a work represent everything that exists before the song is recorded. The master tapes are the recordings of them. Therefore, each recorded work of music can have multiple owners who receive profits every time the piece of music is used.

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Litmus co-founder Dan McCarroll believes in Katy Perry He is a creative visionary who has had a great influence on the field of music.can we read in Variety (New window). The purchase of Keith Urban’s recordings last December was his first significant profit since the company’s founding in 2022.

Katy Perry has chosen to develop her career at a less frenetic pace in recent years, working among other things in philanthropy. She is also dedicating more time to her family since the birth of her daughter in August 2020. Additionally, the celebrity will return as a judge for season 22 of the show. American Idol, in spring 2024.

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Katy Perry was one of the highest-paid women in the music industry in the 2010s. Her fortune, valued at more than $38.5 million, according to the magazine ForbesIt is not only based on his songs: his role as judge american idol It would be very lucrative and he would also make a lot of money thanks to his clothing and footwear collections, as well as the line of non-alcoholic snacks that he co-created.

Many artists have chosen the same path as Katy Perry over the past year. Justin Bieber notably sold his music rights to Hipgnosis in January, Primary Wave bought Sarah McLachlan’s music in April and BMG acquired Paul Simon’s songs in June 2023.

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