The singer — known for her hits like "I Kissed a Girl," "Teenage Dream," and "Roar" — is the latest musician to sell their stake in the rights to their music catalog, and she's believed to have made quite a buck in the transaction.
On Monday, the music rights management company Litmus Music announced in a press release that they've begun "a creative partnership" with Katy for her five studio albums (One of the Boys, Teenage Dream, Prism, Witness, and Smile), all of which were released between 2008 and 2020.
Teenage Dream, in particular, was a record-breaking success. The 2010 record spawned five No. 1 singles: "California Gurls," "Teenage Dream," "Firework," "E.T.," and "Last Friday Night (T.G.I.F.)." She tied with Michael Jackson as the only artist to achieve this feat. MJ did so with his 1987 record Bad. Katy was also the first woman to reach this accomplishment.
“Katy’s songs are an essential part of the global cultural fabric. We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does," Litmus's cofounder and CEO Hank Forsyth said in the press release.
As for how much Katy sold her stake in the catalog, which also includes hits like "Hot n Cold," "Wide Awake," and "Dark Horse," the reported amount is no joke.
They're not the only stars to do so. The Wall Street Journal reported in May of last year that Justin Timberlake sold his song catalog in a deal valued around $100 million.
Bruce Springsteen also recently sold his music rights. The New York Times reported in 2021 that he did so for around $550 million.
Notably, Katy's deal with Litmus doesn't include her masters. According to Deadline, her masters remain with Universal Music Group. Katy has been signed to Universal's Capitol Records label since 2007.
Of course, given just how many blockbuster hit songs Katy has had over the years, the reactions to her selling her shares for $225 million were feverish.
@YSLONIKA/Pop Tingz/Twitter/Disney Channel/About You / Via Twitter: @YSLONIKA
While others theorized the price likely made sense, all things considered:
Why do y’all always say something isn’t enough? 😂 these artists will never see this type of money from their music again. It’s 2023. $225 million is more than enough. https://t.co/kS8BN9nIcs
Wise move, her recurrent streams were painfully low and she didn't own her masters in the first place. Not everyone gets to have a career like Taylor Swift's, she's one in a trillion https://t.co/TDoRPlyep1
Thankfully, musician Hoodie Allen stepped in to provide some much-needed context about how the music industry actually works, i.e. artists don't usually have complete ownership over all aspects of their music:
