Katy Perry Sells Rights To 5 Old Albums For IDR 3.46 Trillion

JAKARTA - Katy Perry sells the right to his music, at a price of 225 million US dollars (equivalent to Rp3.46 trillion).

The deal comes after months of rumors that the American pop star is in the process of selling his catalog, and sees Perry diverting his music rights to Litmus Music.

The company was co-founded by former Capitol Records president Dan McCarroll, and the deal was finalized on Monday, September 18 with a reported value of 225 million US dollars.

This includes major royalty revenues and publishing rights for the five albums released by the 38-year-old between 2008 and 2020.

These include the album One Of The Boys (2008), Teenage Dream (2010), PRISM (2013), Witness (2017), and his latest studio album Smile, which was released three years ago.

The company that bought the music rights was also founded by Hank Forsyth alongsideten Global Credit, and has previously purchased old catalogs from Keith Urban and Benny Blanco since its launch last summer.

Katy Perry is a creative visionary who has exerted great influence in the fields of music, TV, film, and philanthropy. I feel very honored to be partnering again with him and helping Litmus manage his outstanding repertoire, McCarrick said in a statement discussing the sale (via Variety).

Forsyth, co-founder and CEO, agrees, adding that Katy's songs are an important part of the global cultural order.

"We are very grateful to be able to work together again with trusted partners whose integrity radiates in everything he does," he added.