2023-09-19 23:59:08
This is the largest catalog sales deal for a single artist this year, complete Billboard. Katy Perry thus dethrones Justin Bieber, who sold his titles last January for 200 million dollars to Hipgnosis Songs Capital. These sales “demonstrate that renowned artists can still obtain high prices, even if high interest rates moderate investors’ appetite for music rights,” comments the magazine.
One of the richest artists in the United States
Litmus Music was created in August 2022 and has already acquired the rights to recordings by Keith Urban, noted Variety. Group boss Hank Forsyth explained the purchase in the magazine, describing Katy Perry’s songs as “an essential part of the global cultural fabric.”
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With this sale, the net worth of the 38-year-old musician – who has been carrying out a lucrative residency in Las Vegas since 2021 – is now “estimated at $340 million, which makes her one of the self made woman the richest in America”, underlines for his part le magazines Forbes, which placed her in ninth place among the musical artists who earned the most money during the years 2010-2020, with more than 530 million dollars.
The acquisition of music rights from important artists has been a booming activity in recent years. Big names such as Bob Dylan, Neil Young, Shakira, Justin Timberlake and even Bruce Springsteen have thus waived their rights in exchange for sometimes colossal sums: the press thus estimated the sale price in 2021 of the latter’s catalog of songs at some 500 million dollars for the latter.
Read also: Why old music stars are selling their rights
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