Red Hot Chili Peppers Called To Sell Record Catalog For IDR 5.7 Trillion

JAKARTA - The Red Hot Chili Peppers (RHCP) are reportedly looking to sell their music record catalog for US$350 million or equivalent to Rp5.7 trillion.

According to a Billboard report, the California band generates USD 26 million (IDR 424.5 billion) per year from the catalog.

Currently, the band consisting of Anthony Kiedis (vocals), John Frusciante (guitar), Flea (bass), and Chad Smith (drums) has a master and right to 13 studio albums and another release that has been released through Warner Music. However, it is not known whether they also have a master for the first four albums, which were released via EMI.

Furthermore, the US outlet reported that the RHCP may have locked the deal with Warner for the catalog.

If sales of this catalog are successful plus 140 million US dollars (Rp2.28 trillion) paid Hipgnosis for the issuance rights and catalogs of songwriting in 2021 eating RHCP will raise nearly 500 million US dollars.

This news also makes RHCP will join other bands that have sold their catalogs, such as Pink Floyd, Queen, Kiss, and Tame Impala.

Pink Floyd sold their catalog to Sony last October for $400 million, while Kevin Parker of Tame Impala has sold all past and future catalogs to Sony in undisclosed amounts.

Furthermore, Kiss has sold their entire catalog, brand name, looks, and IP to Swedish music and entertainment investment firm Pophouse, in an undisclosed amount.

Meanwhile, the most expensive catalog in music history to date belongs to Queen, which was sold to Sony last June for $1.27 billion.