Katy Perry sells her music catalogue rights for HUGE money
Katy is singing all the way to the bank after signing away her music rights for a pretty penny.
American singer Katy Perry just sold her music catalogue rights for an amount so big it will make your eyes water.
According to Variety, Litmus Music paid $225-million (R4.2-billion) for Katy's master recordings and publishing rights.
This includes the music rights to five of her albums: 'One of the Boys', 'Teenage Dream', 'Prism', 'Witness', and 'Smile'.
The albums produced hits such as 'I Kissed A Girl', 'Hot N Cold', 'Firework', 'California Gurls', 'Last Friday Night (T.G.I.F.)', and 'Roar'.
The deal is only for her stake in the albums as Universal Music Group still owns the masters.
"Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy. I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire," Lithmus Music co-founder Dan McCarroll told Variety in a statement.
Katy is one of several music superstars to have sold their music rights in recent years.
Justin Bieber sold his entire music catalogue to Hipgnosis Songs Capital for $200-million (R3.4-billion at the time) earlier this year.
The deal included more than 290 songs.
Shakira also sold her entire music catalogue in 2021. The Colombian singer sold her music rights to the Hipgnosis Song Fund for an undisclosed figure in a multi-million dollar deal.
Her catalogue includes hits such as 'Waka Waka' and 'Hips Don't Lie'.
Hipgnosis also owns the rights to Justin Timberlake's music catalogue. The deal includes songs he wrote and co-wrote. The music investment company reportedly paid around $100-million.
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Main image credit: Instagram/@katyperry
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