The Big Deal
After months of speculation, Katy Perry has sold her music rights to Litmus Music, a company backed by Carlyle, in a staggering $225 million deal.
What’s Included in the Deal?
This significant agreement encompasses Perry’s ownership of master recordings and publishing rights for her five albums released between 2008 and 2020: “One of the Boys,” “Teenage Dream,” “Prism,” “Witness,” and “Smile.” However, Universal Music Group retains ownership of the master recordings for these albums.
Katy’s Evolving Career
Once a major superstar during the 2010s, Katy Perry has since redirected her career towards Las Vegas residencies, philanthropy, and building a family with actor Orlando Bloom.
Litmus Music’s Rise
Litmus Music, which emerged in the summer of 2022, made its initial significant move in December of the same year by acquiring Keith Urban’s master recording rights.
Words from the Key Players
Leaders from Litmus Music and Carlyle share their thoughts on the deal and what it means for the music industry.
Katy Perry: A Creative Visionary
McCarroll, Litmus Music’s representative, expresses his excitement at collaborating with Katy Perry again and managing her incredible body of work.
Katy’s Cultural Impact
CEO Hank Forsyth acknowledges Katy Perry’s songs as a vital part of global culture and highlights the value of working with such a trusted partner. Matt Settle, Managing Director at Carlyle, discusses how this agreement showcases their team’s ability to partner with top artists and acknowledges the lasting influence of Katy’s iconic songs. A glimpse into how Carlyle Global Credit facilitated this partnership and their expertise in structuring financial solutions for artists and partners.
