Katy Perry made a great deal for her music this week. This is why she sold her publishing and master recordings at the youngish age of 38.
Believe it or not, Katy’s chart topping days are likely over unless she scores a surprise hit. She hasn’t released an album in over three years. She hasn’t had a real hit record since 2017.
Katy has only put out 5 albums, which isn’t a lot. All of her songs are collaborations with other writers like superstar Max Martin. So the $225 million sale Litmus, backed by the Carlyle Group, is just for the portion she was allocated for each song.
Perry’s biggest hits like “Firework” and “Roar” can be easily repurposed by Litmus. They’ll make their money back fast turning Katie’s hits into commercials. “Firework” has unlimited potential in public use for fireworks displays. That has to be paid for each time.
It is true that Perry has focused her last years on starting a family. She also has made a fortune from hosting “American Idol.” It’s turned into a permanent gig. The result is she hasn’t been on a big tour in years. Instead, she’s gone the route of having a Las Vegas residency similar to Adele. She can earn millions more just staying put in Las Vegas, making the fans come to her.
Most of the music stars who sold their catalogs are in their 70s or older. With the exception of Justin Bieber– still in his 20s and semi-retired– these people are legacy artists who wrote their own music exclusively and have fifty years’ worth of songs. Katy doesn’t have that depth or length to her catalog but she has just enough in there to strike while the iron is hot.
So congrats to Katy Perry. Her estimated worth before this, according to reports, was already $330 million. Now it’s closer to $600 million, and she’s not done yet. There could easily be a syndicated talk show in her future if she wants it, and that would bring in even more moolah.
Here’s my favorite Katy Perry song, “Chained to the Rhythm,” written by Skip Marley, Max Martin and Ali Payami, with additional writing from Sia — and of course Katy. That’s a big pie to carve up. so now Katy’s portion has been secured. Could she have more hit records? That depends. Miley Cyrus has made a stunning comeback this year on the charts with the right songwriters. It can be done.
