Litmus Music has acquired a stack of rights from Katy Perry in relation to the five albums she released with Capitol Records between 2008 and 2020, in a deal reportedly worth around $225 million.
The deal covers both recording rights and song rights, specifically Perry's royalty rights in relation to the recordings on those albums and her stake in the publishing. Capitol - an EMI label when Perry signed to it in 2007, but now owned by Universal Music - still owns and controls the recording rights, so Litmus will now receive the artist royalties it pays out.
Dan McCarroll, who co-founded Litmus Music last year, previously worked with Perry during a stint as President at Capitol Records. He says of the new deal: “Katy Perry is a creative visionary who has made a major impact across music, TV, film and philanthropy. I’m so honoured to be partnering with her again and to help Litmus manage her incredible repertoire".
Litmus is backed by investment firm Carlyle, whose MD Matt Settle said of the Perry deal: “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".