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Katy Perry has sold her music rights to Litmus Music for $225 million (£180 million).
Following several months of rumours, the California Gurls hitmaker has sold the rights to her music to Litmus Music for $225 million, the company announced on Monday.
The deal includes Perry's stakes in master recordings and publishing rights for the five albums that she released between 2008 and 2020, One of the Boys, Teenage Dream, Prism, Witness and Smile.
In recent years, the 38-year-old has slowed down her highly successful career to focus on Las Vegas residencies, philanthropy work and raising a family with her long-time partner, Orland Bloom.
Litmus Music was co-founded by former Capitol Records president Dan McCarroll. The Carlyle-backed company, which focuses on acquiring and managing both publishing and recorded music rights, launched in 2022. It made its first major acquisition by buying the rights to Keith Urban's master recordings.
McCarroll stated, "Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy. I'm so honored to be partnering with her again and to help Litmus manage her incredible repertoire."
Hank Forsyth, Co-founder and CEO, added, "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."