Katy Perry has sold her music rights to Litmus Music, a venture co-founded by Capitol Records president Dan McCarroll and financed by The Carlyle Group.
The deal covers all five of her studio albums, including 16 multi-platinum singles. Carlyle announced the deal, worth a reported $225 million, today.
According to Carlyle, the partnership company’s partnership with Perry “has its roots in Litmus Co-Founder and Chief Creative Officer Dan McCarroll’s longstanding working relationship” with the singer, which began in 2010 when McCarroll was named President of Capitol Records.
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy,” McCarroll said in a statement. “I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire.”
Hank Forsyth, Co-Founder and Chief Executive Officer of Litmus Music, called Perry’s songs “an essential part of the global cultural fabric,” while Matt Settle, Managing Director at Carlyle, said, “We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”
In July, American Idol announced that Perry would return for a seventh season as a judge on the ABC talent show, which airs this spring.
Perry’s five studio albums covered in the deal were released between 2008 and 2020: “One of the Boys,” “Teenage Dream”, “Prism,” “Witness” and “Smile.” Universal Music Group owns the masters to those albums.
