American singer Katy Perry has sold the rights to her music to Litmus Music, a company co-founded by Capital Records President Dan McCarroll and funded by the Carlisle Group.
The agreement applies to all five of the artist's studio albums, as well as 16 of her multi-platinum singles. The Carlisle Group said the deal was worth $225 million.
According to the company, the partnership with Perry is possible thanks to the long-standing professional relationship of singer and co-founder and chief creative officer of Litmus Music Dan McCarroll. The pair began in 2010 when McCarroll was appointed president of Capital Records.
"Katy Perry was a creative visionary who had a major impact on music, television, film and philanthropy," McCarroll said. "It's a great honor to partner with her again and help Litmus work with her incredible repertoire."
Hank Forsyth, co-founder and CEO of Litmus Music, called Perry's songs "an essential part of the fabric of global culture."
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"We are so grateful to be working together again with such a trusted partner whose integrity shines in everything they do," said Matt Settle, managing director of the Carlisleg Group.
In July, American Idol announced that Katy Perry would return as a judge for the show's seventh season, which will air in the spring of 2024.
Perry's five studio albums included in the deal were released between 2008 and 2020, including One of the Boys, Teenage Dream, Prism, Witness and Smile. The Universal Music Group Music Corporation owns the original recordings of these albums.