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    Home»Celebrity»Katy Perry, Justin Bieber, Pat Benatar and More Artists Who Sold Their Music Catalogs
    Celebrity

    Katy Perry, Justin Bieber, Pat Benatar and More Artists Who Sold Their Music Catalogs

    Michael ClarkeBy Michael ClarkeOctober 27, 2023Updated:March 15, 2024No Comments4 Mins Read
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    Publishing rights usually stay with publishers and songwriters, with recorded writs belonging to labels and performers. Over the recent years, firms like Hipgnosis Songs Fund, Primary Wave, and Litmus Music (a catalog rights company backed by private-equity firm Carlyle Group LP) have risen to buy artists’ back catalogs, paying out millions (and in the case of artists like Katy Perry, Justin Bieber and Bruce Springsteen, hundreds of millions) to artists and labels to own the rights to their classic songs.

    After securing the rights, these companies get all the money from royalties, licensing, brand deals and other revenue streams that would generally go to the artists, per Rolling Stone.

    Why would artists sell the rights to the music they’ve worked so hard to make? There are many reasons. First off, there’s a tax benefit: doing a one-time multimillion-dollar payout with a 20 percent tax is much more appealing than facing an annual tax rate as high as 37 percent.

    It might also be worth more for an artist to take the multimillion-dollar buyout due to the modern music landscape. Streaming pays less than actual album sales used to, so to make money, an artist needs to tour. Unless you’re Taylor Swift or Beyoncé, even touring doesn’t make as much money as it once did.

    The move isn’t just for older legends securing a retirement fund for their golden years. Bieber sold his catalog for $200 million in 2023, ensuring that he will get that $200 million in his lifetime instead of holding onto the rights in the hope of accruing that money through licensing deals and royalties.

    Benatar’s voice was the soundtrack to the 1980s, with hits like “Hit Me With Your Best Shot,” “Love Is A Battlefield,” “Invincible (Theme from ‘The Legend of Billie Jean’)” and “Heartbreaker.” In October 2023, the Rock and Roll Hall of Famer sold an unspecified stake in her discography to Harbourview Equity Partners. The amount Benatar got for this cut of her publishing and recording rights was also undisclosed.

    Almost a year after McVie’s death, the estate of the Fleetwood Mac songstress sold an undisclosed stake in her catalog to Harbourview Equity.

    “Christine wrote those beautiful, melodic pop songs, and it was Christine who really kept them together as Fleetwood Mac’s guiding star,” Harbourview CEO Clarke Soares told Rolling Stone when announcing the sale in October 2023. “Being able to participate in the legacy of Fleetwood Mac but also to align with a female rock icon as a female-owned and run firm doesn’t happen every day, it’s special. Christine’s no longer with us, but she was obviously such a major and important force in the world of rock and roll.”

    Katy Perry, Justin Bieber, Pat Benatar and More Artists

    The sale came roughly a year after McVie died of a stroke at age 79 in November 2022. It also marks the latest Fleetwood Mac sale. In 2021, Mick Fleetwood sold his stake in the band’s publishing and recording rights to BMG, the same year Lindsey Buckingham sold his stake in the catalog to Hipgnosis. In 2020, Stevie Nicks sold a minority stake of her publishing catalog to Primary Wave.

    Perry sold master recording royalties and music publishing rights to her first five albums — One of the Boys, Teenage Dream, PRISM, Witness and Smile — to Litmus Music, a catalog rights company backed by a private equity firm, Carlyle Group LP. The September 2023 deal was reportedly for $225 million, according to Billboard.

    For Dan McCarrol, Litmus cofounder and CCO, it’s a happy reunion. He worked with Perry when he was president of Capitol Records. “Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy,” McCarroll said. “I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire.”

    Justin Bieber Katy Perry Pat Benatar and More Artists
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