Katy Perry reportedly makes $225m by selling her music catalogue (2024)

Katy Perry has sold a bundle of her music rights to Litmus Music, with multiple sources pricing the deal at $225m (£182m).

The sale, which was announced on Monday, covers all five albums Perry released for Capitol Records, from 2008's One of the Boys to 2020's Smile.

That includes multi-platinum hits like Firework, Teenage Dream, Hot 'n' Cold, California Gurls and I Kissed A Girl.

It is the biggest catalogue deal for a single artist this year.

Justin Bieber was the previous title holder, after offloading his stake in his back catalogue to the UK-based Hipgnosis Songs Capital in January for $200m (£162m).

Litmus now owns Perry's stake in the master recordings and publishing for the records, meaning it will collect any future royalties the music earns.

Two of her songs - Dark Horse and Roar - have more than one billion streams on Spotify. Roar is also one of the most-watched videos of all time on YouTube, with 3.8 billion plays.

A major star in the 2010s, Perry has slowed her work rate down in recent years, concentrating on her Las Vegas residency and raising a family with her partner, the actor Orlando Bloom.

She will also return for her seventh season as a judge on American Idol next year.

Litmus music is a venture co-founded by former Warner Music and Capitol Records president Dan McCarroll and financed to the tune of $500m (£404m) by The Carlyle Group.

According to a press release, the deal with Perry is rooted in McCaroll's "longstanding working relationship" with the singer when they were both at Capitol.

Litmus co-founder and CEO Hank Forsyth 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."

The company previously acquired Keith Urban's rights to his master recordings and a "portfolio" of tracks by songwriter Benny Blanco, who has worked with Ed Sheeran, The Weeknd, Rihanna and Britney Spears.

The acquisition of music rights has been a booming business for the last couple of years, with artists including Bob Dylan, Neil Young, Shakira, Debbie Harry and Justin Timberlake forgoing future royalties for upfront, nine-figure sums.

Katy Perry reportedly makes $225m by selling her music catalogue (2024)

FAQs

How did Katy Perry make most of her money? ›

Much of Katy's money comes from her album sales and touring. She rose to fame in 2008 with the release of her album One of the Boys, which included Top 10 hits “I Kissed a Girl” and “Hot 'n' Cold.” With her second pop album, Teenage Dream in 2010, she became the only female singer to have five No.

How much does Katy Perry make per concert? ›

For a typical concert, Perry likely makes at least hundreds of thousands of dollars when you factor in merchandise sales and ticket grosses, but those sums dwindled in recent years: Her Witness world tour saw far fewer sold-out shows than her previous California Dreams, Prismatic and Hello Katy tours, though her Las ...

How did Katy Perry get a record deal? ›

After Columbia dropped Perry, Angelica Cob-Baehler, then a publicity executive at the label, brought Perry's demos to Virgin Records chairman Jason Flom. Flom was convinced that she could be a breakthrough star and she was signed to Capitol Records in April 2007.

How many #1 songs does Katy Perry have? ›

Perry has scored nine number one songs on Billboard Hot 100 and three number one albums on Billboard 200.

How much did they pay Katy Perry? ›

Katy's iconic residency ran from December 29, 2021, through March 19, 2022, and she was reportedly being paid $168 million.

How rich is Taylor Swift? ›

And now, as of February 2024? Bloomberg reported that Taylor's net worth is officially $1.1 billion.

How much does Lionel Richie make on American Idol? ›

How much does Lionel Richie get for being on American Idol? Lionel Richie reportedly earns about $10 million per year for judging on American Idol. The show typically runs for 20 episodes each season, meaning Richie makes $500,000 per episode.

How much does Taylor Swift get paid per concert? ›

How much does Taylor Swift make per concert? Taylor Swift makes approximately a jaw-dropping $13.6 million (£10.73 million) per concert she performs at, according to Forbes.

How much is Katy Perry paying for American Idol? ›

Katy Perry (Season 16 - Present)

Perry was the talk of the town when Page Six reported that she receives $25 million a season from ABC to judge on American Idol. Perry is one of Idol's three new judges since the show was rebooted by ABC in 2018.

Did Katy Perry sell her catalog? ›

Katy Perry has sold her music catalog rights to Litmus Music, co-founded by Capitol Records' Dan McCarroll and financed by The Carlyle Group, in a deal worth $225 million.

Who is Katy Perry married to in 2024? ›

Katy Perry and Orlando Bloom are planning to get married in 2024, The Mirror reports. ''They had to change their wedding plans during the COVID-19 pandemic. They'll get married soon, possibly on Valentine's Day, which is the anniversary of their engagement. ''

Is Katy Perry related to Kate Hudson? ›

Katy plus Kate equals BFFs! Katy Perry revealed that she and Hollywood stunner Kate Hudson not only share a love for the California sunshine -- the two are actually quite good friends as well. And, Perry pointed out, the pair even share a name!

Is Katy Perry a billionaire? ›

Katy Perry made the self-made women billionaires list for the first time. Although, it states her current net worth as $350 million.

Why did Katy Perry change her name? ›

Katy Perry is no stranger to name change. In fact, she changed her name from Katheryn Hudson to Katy Perry to prevent confusion with her famous friend Kate Hudson. The fact that she didn't mind changing her birth name is an indicator about Perry's stance on maiden vs. married name change.

Does Katy Perry get royalties? ›

Litmus now owns Perry's stake in the master recordings and publishing for the records, meaning it will collect any future royalties the music earns.

What does Katy Perry get paid for American Idol? ›

Katy Perry (Season 16 - Present)

Perry was the talk of the town when Page Six reported that she receives $25 million a season from ABC to judge on American Idol. Perry is one of Idol's three new judges since the show was rebooted by ABC in 2018.

How did Katy Perry fail before she became famous? ›

#2 – Katy Perry

In 2001 Katy Perry released her first gospel album with Red Hill Records, which was commercially unsuccessful. After selling only 200 copies of her album, the record company ceased operations and subsequently went out of business.

What did Katy Perry do growing up? ›

Nonreligious music was forbidden in the Hudson household, and she grew up singing church hymns and gospel tunes. As a teenager, she learned to play the guitar and sought a musical career in Nashville with a Christian record label, but her debut album, the gospel-influenced Katy Hudson (2001), sold poorly.

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