Red Hot Chili Peppers Sell Catalog in $300M+ Warner Deal
The band have been signed to Warner since the early ’90s
Red Hot Chili Peppers (RHCP) have sealed a $300 million-plus deal to sell the rights to their recorded catalog to Warner Music Group (WMG), as per The Hollywood Reporter.
Why it matters:
RHCP have for decades been one of rock’s biggest bands.
Their catalog includes hits such as “Under the Bridge,” “Otherside,” “By the Way,” “Californication,” “Scar Tissue,” “Can’t Stop” and more.
Context:
In its May 7 earnings report, WMG said it had spent $650 million on catalogs since launching its $1.2 billion catalog acquisition joint venture with Bain Capital.
The RHCP deal accounts for roughly half that spend.
Warner has been home to the band since 1990, signing them prior to the release of 1991 breakthrough Blood Sugar Sex Magik.
Prior deals:
As per The Hollywood Reporter, in 2021 the band sold their publishing catalog to Hipgnosis (now Recognition Music Group) for $140 million.
Sony is currently in talks to acquire the Blackstone-owned Recognition in a multi-billion dollar deal.
👋 Disclosures & Transparency Block
This story was written with information from The Hollywood Reporter.
We covered it because it’s news of a significant catalog sale.
