Katy Perry is the latest singer to sell off their music catalog for big bucks.
According to Deadline, Perry recently sold her music rights to Litmus Music, which was co-founded by Capitol Records president Dan McCarroll. The pop star is currently signed to Capitol Records.
Perry reportedly made $255 million from the massive sale, which includes rights to her five albums as well as hit singles such as “Teenage Dream,” “Dark Horse” and “Roar.”
In a statement, McCarroll called Perry a “visionary” and spoke about her impact on popular culture.
“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,” McCarroll shared.
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Co-founder and CEO of Litmus Music, Hank Forsyth, shared a similar sentiment about Perry’s impact on global music and culture.
“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,” he said.
Perry is not the only pop star who has recently sold the rights to their music for a hefty payday.
Back in January, Justin Bieber sold his music catalog for $200 million. According to Billboard, Bieber’s manager Scooter Braun said the reason for the sale was to “preserve and grow this amazing legacy.”
The publication noted Bieber did not sell his master recordings but rather his publishing and artist royalties.
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