The Anthony Kiedis fronted band need to dump their recorded masters for $350 million, in keeping with Billboard. It’s estimated that RHCP’s catalog brings in $26 million a 12 months for the band.
At present, the band owns the masters and rights to all of their 13 studio albums and different releases issued by Warner Music, although it’s unclear whether or not they absolutely personal their first 4 albums which have been launched by EMI.
Billboard is reporting that RHCP could have already struck a cope with Warner for the masters catalog, it has but to be formally confirmed.
This is able to be on prime of the $140 million that they’ve already been paid by Hipgnosis Songs for the publishing rights and songwriting catalog to their music in 2021.
If the brand new $350 million deal goes by, it is going to amass the California band almost $500 million for all their music property.
Purple Sizzling Chili Peppers are the newest band who’ve offered, or need to promote, their music catalog. In 2021, Bruce Springsteen offered his to Sony Music for $500 million, whereas Pink Floyd offered theirs to Sony for $400 million.
Essentially the most profitable deal a band has made thus far was Queen, who offered their music catalog to Sony for $1.27 billion final 12 months – making this the most costly music acquisition ever.
