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Katy Perry has sold her music rights to Litmus Music, a venture co-founded by Capitol Records president Dan McCarroll and funded by The Carlyle Group.
The deal covers all five of her studio albums, including 16 multi-platinum singles. Carlyle announced the $225 million deal today.
According to Carlyle, the partner company’s partnership with Perry “has its roots in Litmus co-founder and chief creative officer Dan McCarroll’s long-standing working relationship” with the singer, which began in 2010 when McCarroll was named president of Capitol Records.
“Katy Perry is a creative visionary who has had a profound impact on music, television, film and philanthropy,” McCarroll said in a statement. “It is a great honor to partner with her again and help Litmus drive her incredible repertoire.”
Hank Forsyth, co-founder and CEO of Litmus Music, called Perry’s songs “an essential part of the global cultural fabric”, while Matt Settle, managing director of Carlyle, said: “We are so grateful to once again work with such a trusted partner whose integrity shines through to all that he does.’
In July, American Idol announced that Perry will return for a seventh season as a judge on the ABC talent show, which airs this spring.
Perry’s five studio albums included in the deal were released between 2008 and 2020: “One of the Boys”, “Teenage Dream”, “Prism”, “Witness” and “Smile”. Universal Music Group owns the artwork for these albums.