Katy Perry Sells Catalog to Litmus Music for $225 Million

Katy Perry sold rights to her music from 2008-2020 to Litmus Music for $225 million.
The deal includes master recordings and publishing rights for five albums with 16 multiplatinum hits.
Litmus Music is backed by private equity firm Carlyle Group and run by former Capitol Records president.
The sale comes as Perry focuses on her Las Vegas residency, philanthropy and family.
Perry joins other major artists selling catalogs, as deals slow due to rising interest rates.