Red Hot Chili Peppers Sell Music Catalog to Warner for $300 Million

"Red Hot Chili Peppers have sold their recorded music catalog to Warner Music Group for more than $300 million, reports . The deal includes all of the band's recorded output, including their 13 studio albums, which reportedly generate around $26 million annually. Although the band owned their recorded catalog independently for the past year, during which they were allegedly seeking $350 million for the package, Warner is a logical buyer to foot the bill, as the label originally released Blood Sugar Sex Magik and Californication."

"This deal is not to be confused with Red Hot Chili Peppers' big sale in 2015, during which Hipgnosis Songs Fund bought the band's publishing rights for around $150 million. However, those different rights may eventually change ownership anyway because Sony Music is currently courting Hipgnosis (now known as Recognition Music Group) for acquisition in part of a multi-billion dollar deal."

"In 2022, Red Hot Chili Peppers dropped two albums, Unlimited Love and Return of the Dream Canteen, which remain their most recent records. They now join the ranks of other high-profile artists who have sold their catalogs to juggernaut companies, including Bob Dylan, Bruce Springsteen, and Justin Bieber, while artists like Taylor Swift and Dua Lipa are reversing course by buying back their own material."

Red Hot Chili Peppers sold their recorded music catalog to Warner Music Group for more than $300 million. The deal covers all recorded output, including 13 studio albums that reportedly generate about $26 million annually. The band had owned the catalog independently for the past year and was allegedly seeking $350 million. Warner is positioned as a logical buyer because it originally released Blood Sugar Sex Magik and Californication. The sale is separate from a 2015 transaction in which Hipgnosis Songs Fund acquired the band’s publishing rights for about $150 million. Sony Music is reportedly courting Hipgnosis for a large acquisition, which could change ownership again. The band’s latest albums are Unlimited Love and Return of the Dream Canteen from 2022. The move aligns with other artists selling catalogs, while some artists buy back their own material.

Read at Pitchfork