First reported by Rolling Stone
Red Hot Chili Peppers Sell Recorded Music Catalog to Warner Music Group for Over $300 Million
Red Hot Chili Peppers sell music catalogue to Warner Music Group for over $300 million
By
Emily Swingle
20d ago· 3 min readenNews
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Summary
The Red Hot Chili Peppers have sold their entire music catalogue to Warner Music Group for over $300 million, joining a growing trend of legacy artists cashing in on their music rights. The deal, which follows rumors from last year that the band was seeking around $350 million, contrasts with artists like Taylor Swift who have fought to retain control of their master recordings.
Key quotes
· 4 pulledFor popstar Taylor Swift, buying back her master recordings was a top priority for six arduous years.
However, other artists can't wait to hand over the rights to their music – and the Red Hot Chili Peppers are the latest band to sign on the dotted line, selling their entire catalogue for over $300 million.
Rumours of the Chilis selling their catalogue first arose last year, with sources telling Billboard that the rockers were allegedly seeking around $350 million.
Now, The Hollywood Reporter reports that the band has finally made a deal with Warner Music Group, with the label paying over $300
The Dani California group has reportedly confirmed a deal with Warner Music Group, selling off their entire music catalogue.
