After months of rumors, Katy Perry has sold her music rights to Litmus Music, the Carlyle-backed company co-founded by former Capitol Records president Dan McCarroll, for $225 million, the company announced Monday.
The deal includes Perry’s stakes in master recordings and publishing rights for the five albums she released between 2008 and 2020: “One of the Boys,” “Teenage Dream”, “Prism,” “Witness” and “Smile.” Universal Music Group continues to own the masters to those albums.
After years as a major superstar during the 2010s, Perry has slowed her career, focusing on residencies in Las Vegas, philanthropy work and raising a family with her partner, actor Orlando Bloom.
Litmus launched in the summer of 2022 and made its first major acquisition the following December, buying Keith Urban’s rights to his master recordings.
McCarroll said, “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.”
Co-founder and CEO Hank Forsyth added, “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.”
“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture,” said Matt Settle, Managing Director at Carlyle.
Carlyle Global Credit has invested capital for this partnership from its Credit Opportunities strategy, and has deployed more than $3 billion in and around the sports, media, and entertainment space since 2018. Carlyle Global Credit brings to the table the ability to structure bespoke financial solutions for partners and artists.