The Anthony Kiedis fronted band want to dump their recorded masters for $350 million, in response to Billboard. It’s estimated that RHCP’s catalog brings in $26 million a yr for the band.
At present, the band owns the masters and rights to all of their 13 studio albums and different releases issued via Warner Music, although it’s unclear whether or not they totally personal their first 4 albums which have been launched by EMI.
Billboard is reporting that RHCP might have already struck a take care of Warner for the masters catalog, it has but to be formally confirmed.
This might 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 via, it should amass the California band practically $500 million for all their music belongings.
Pink Sizzling Chili Peppers are the most recent band who’ve offered, or want 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 up to now was Queen, who offered their music catalog to Sony for $1.27 billion final yr – making this the most costly music acquisition ever.