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Katy Perry sells copyrights to her songs for more than R$1 billion

The American singer Katy Perry sold his music catalog to “Litmus Music”, a company specialized in acquiring the copyrights of artists and composers.

According to information from “Billboard”, the artist received a total of US$225 million from the sale (more than R$1 billion at current prices) for royalties from the songs.

The negotiation includes great hits from his career, such as “Teenage Dreams”, “I Kissed A Girl”, among several other songs recorded between 2008 and 2020, which total five albums.

“Katy Perry is a creative visionary who has made a huge impact in music, TV, film and philanthropy. I am so honored to partner with her again and help Litmus manage her incredible repertoire,” said Dan McCarroll, former president of Capitol Records and co-founder of The Carlyle Group.

Matt Settle, managing director of the Carlyle Group, defined the pop singer’s work as revolutionary: “We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved great commercial success, but have also significantly influenced popular culture.”

Katy isn’t the only one

In addition to the artist, Justin Bieber, Bob Dylan, Red Hot Chili Peppers, Justin Timberlake, Shakira, among others, have also sold copyrights to their songs to companies in the industry.

In the case of Bieber, for example, copyrights to his songs were sold for US$200 million (approximately R$1.02 billion). The buyer was Hipgnosis Songs Capital.

According to the music and behavior magazine “Rolling Stone”, the agreement is the largest ever made for the sale of the catalog of an artist of the same generation as the singer.

Source: CNN Brasil

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