Red Hot Chili Peppers: catalog sold for $300 million

The Red Hot Chili Peppers have sold Warner Music Group the rights to their recordings for an estimated figure of around 300 million dollars. The deal covers the band's recorded catalog and, according to estimates circulating in the United States, would guarantee annual earnings close to 26 million dollars.

The partnership between Anthony Kiedis and Flea's band and Warner dates back to the days of “Blood Sugar Sex Magik“, released in 1991. The deal is part of a broader strategy developed by Warner Music Group together with Bain Capital: the joint venture between the two companies has reportedly already invested around 650 million dollars in acquiring music catalogs and publishing rights.

This isn't the first sale of this kind for the Red Hot Chili Peppers. Five years ago the band had already sold the publishing rights to their songs — that is, the intellectual property of the tracks, distinct from the recordings — to Hipgnosis Songs Fund, now rebranded as Recognition. That deal was valued at between 140 and 150 million dollars. According to the latest rumors, an advanced negotiation is also reportedly underway for the subsequent sale of those rights as part of a multi-billion-dollar deal with Sony Music.

Ride the wave of great music

Add OndaRock to your favorite sources on Google Discover. Don't miss our reviews, milestones and latest news straight in your feed.

Follow on Google