Katy Perry sells rights to five albums, including “Teenage Dream,” to Litmus Music -September 18, 2023 at 6:50 p.m.

Singer Katy Perry has signed an agreement to sell the rights to five of her studio albums released between 2008 and 2020, including “Teenage Dream”, to Litmus Music, a music rights company financed by Carlyle, we learned on Monday.

“One of the Boys,” “PRISM,” “Witness,” and “Smile” are the other four studio albums that are part of the deal.

Billboard reported that the deal was valued at $225 million, citing sources. Private equity firm Carlyle declined to comment on the value of the deal.

All five studio albums were released under Perry’s contract with Capitol Records, whose former president Dan McCarroll is the co-founder of Litmus Music.

Blackstone-backed Hipgnosis Songs and other investment firms have bought up the music catalogs of artists such as Justin Bieber and Bob Dylan in recent years as the rise of streaming makes their songs a reliable source of revenue.

With Perry, Litmus Music has access to an artist who rose to prominence in July 2008 with the song “I Kissed A Girl” and who has earned 13 Grammy Award nominations and five MTV Video Music Awards. (Reporting by Jaspreet Singh in Bengaluru)

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