Katy Perry has sold the rights to her music to Litmus Music, which was co-founded by former Capitol Records president Dan McCarroll. According to Variety, the company paid Perry a whopping $225 million for her stakes in master recordings and the publishing rights for her five albums: “One of the Boys,” “Teenage Dream”, “Prism,” “Witness” and “Smile.”
Litmus co-founder and CEO Hank Forsyth said in a statement, “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.” Litmus launched in 2022 and acquired the rights to Keith Urban’s master recordings.
Universal Music Group still owns the masters of the albums, which were released between 2008 and 2020.
One of the biggest pop stars in the 2010s, Perry has been more focused on other ventures in recent years. Last year, the “American Idol” judge purchased her footwear brand Katy Perry Collections following nearly six years of partnership with Global Brands Group Holding Ltd. At the time, she told FN, “I decided to take complete ownership and level up, find great partners, develop my team and put into practice all of the education I have learned — and just be that CEO boss bitch that I want to be.”
The “Firework” hitmaker launched her shoe brand in 2017, inspired by a pair of thrifted Dalmation-inspired flats. With full ownership of the brand, her intention is to design avant-garde shoes that push the envelope. Speaking to FN for its June 2022 cover, she said, “I want to bring it back to its true soul, which has a little bit more personality, a little more kitsch.”
