Sources from Billboard report that Katy Perry has agreed to sell the copyright of her five studio albums to Litmus Music for a total of $225 million USD. These albums were released by the female singer between 2008 and 2020 and include Teenage Dream, One of the Boys, PRISM, Witness, and Smile.
Referring to the agreement, the chairman of Litmus Music stated that Katy Perry is an innovative visionary who has made a significant impact in music, television, film, and philanthropy. Her songs are an essential part of the global cultural fabric, and they are grateful to be collaborating with her again.
The information has surprised fans greatly. However, the female singer has not yet disclosed the reason behind her decision to sell the rights to her famous album series. It is worth noting that last April, the American Idol judge revealed that he was preparing for a new album and tour. Therefore, selling copyrights to old albums may confuse the audience about the female singer’s next move.
In recent times, investment firms have been acquiring the music catalogs of various artists such as Justin Bieber and Bob Dylan. This move is believed to be a response to the growth of streaming services, which have turned these songs into a substantial and dependable source of revenue.