As reported, the Red Hot Chili Peppers They are looking to sell their music catalog recorded by a multimillionaire figure, an action that have made great bands and outlets.
According to a Billboard report, the Catalog of Masters engraved from the Californian band is for sale and The band seeks to obtain at least 350 million dollars In the agreement. They also estimate that the catalog currently generates the band about 26 million dollars a year.
Currently, Red Hot Chili Peppers has the masters and the rights of the 13 study albums and other releases that have been published through Warner Music. It is currently unknown if they also have the masters of the first four albums, which were launched through EMI.
Billboard also reports that Red Hot Chili Peppers I could have already closed an agreement with Warner for the Masters catalogaccording to Fuentes, although this has not yet been confirmed.
The 350 million dollar agreement, if it reaches the amount they ask for, It will be added to the 140 million that hypnosis paid the band in 2021 for its publication and catalog rights. If the new agreement is specified, Californian funk-rocks will accumulate almost 500 million dollars.
Queen and the most expensive musical catalog
The Red Hot Chili Peppers will soon be the last group to sell their catalog, following the example of Pink Floyd, Queen, Kiss and Tame Impala. Pink Floyd sold his catalog to Sony in October for 400 million dollars, while Kevin Parker de Tame Impala has sold his entire last and future catalog to Sony for an unrelated sum.
Similarly, KISS He sold his entire catalog, brand, image and intellectual property to the Swedish signature of investment in entertainment and pophouse music for an unrelated amount. To date, The most expensive catalog in the history of music belongs to Queenwho sold it to Sony last June for the whopping 1,270 million dollarswhich marks the greatest acquisition of this type ever made.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
