Singer Katy Perry sells rights to five albums for Ksh.33 billion

The transaction is one of the biggest music sales of 2023.

With the sale, her net worth increased to an estimated Ksh.50 billion ($340 million), making her one of the richest female singers in the world. 

Litmus now owns Perry's stake in the master recordings and publishing for the records, meaning it will collect any future royalties the music earns.

"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," Dan McCarroll, former president of Capitol Records and co-founder of Litmus, said in the press release. 

Two of her songs - 'Dark Horse' and 'Roar'- have more than one billion streams on Spotify. 

Roar is also one of the most-watched videos of all time on YouTube, with over 3.8 billion plays.

Perry sold her stakes in master recordings royalties and publishing rights for the five albums she released from 2008 to 2020, 'One Of The Boys', 'Teenage Dream', 'PRISM', 'Witness' and 'Smile', according to multiple US media outlets.

In January, rapper Dr. Dre reportedly sold a portion of his royalties from solo albums, his work with NWA and other music income streams for more than Ksh.29 billion ($200 million).

Canadian singer Justin Bieber sold his publishing rights and royalties from his master recordings that same month for a similar figure.

Perry came onto the music scene in 2008 with her debut single “I Kissed A Girl.” 

The song went to number 1 on the Billboard Hot 100, where it stayed for seven weeks. 

Eight other Perry hits would also eventually reach the top spot, including “California Gurls,” “E.T” and “Firework".

Perry, who now has slowed down her music activities, is now actively raising a family with her husband, actor Orlando Bloom. The singer is also a judge on popular American talent show, 'America's Got Talent'.