Katy Perry is one of the biggest pop stars in the world. Although she has no Grammy wins despite being one of the most influential entertainers and singers in the music industry, Perry's impact is undeniable.
"Teenage Dream" is tagged as one of the most-defining pop albums of this generation, which is why many were livid when hearing that she has only sold her entire catalog for a meager $225 million.
For some, the album alone is worth $225 million. While this may be seen as a bad move by many, it was actually a good business move.
Katy Perry Net Worth 2023 Explored
According to Forbes, Katy Perry's 2023 net worth has ballooned to $340 million after her music rights sale, officially making her one of the richest self-made women in America.
While this may seem like a loss for some, for Perry, it's quite a huge win because she has not been releasing new records for quite some time already.
Also, it has skyrocketed her net worth to $340 million. This puts her behind Taylor Swift, who has a $345 million net worth. Beyonce is still ahead with $540 million, while Rihanna is beyond the billion-dollar mark. Nicki Minaj, on the other hand, is at $150 million.
Perry sold her master recording royalties and publishing rights from "One of the Boys," "Teenage Dream," "PRISM," "Witness," and "Smile" - her first five albums. (via Billboard)
Does Katy Perry Still Own Her Songs?
According to Yahoo Entertainment, Katy Perry's move to sell her music rights meant that every time that her song was used in other formats, for example, a TV show, or it would be performed by others, the royalty payment would go to the owner, in this case, Litmus, who now owns the rights.
In this case, if "Roar" was used in a film or an advertisement, the payment would go to Litmus, and not Katy Perry anymore.
According to the outlet, this move by musicians was reignited during the pandemic as singers and performers sold their songs to cut back the losses of not performing or making music during the worldwide catastrophe.
Among the other artists who sold their songs to publishers were Justin Bieber, Justin Timberlake, Shakira, and John Legend, in the more recent years.
READ ALSO: Justin Bieber Makes Music History After Selling 290 Titles In His Catalog For Whopping Amount
