Four years ago, the band had already received $ 140 million for the publication rights of their music.
The Red Hot Chili Peppers are planning to sell their music catalog for around $ 350 million. “Billboard” reported on Wednesday (February 19). The volunteer was added to the approximately $ 140 million, which the band’s music IP investment and song management company has already paid hipgnosis songs for the publication rights in their music in 2021.
According to “Billboard”, the Red Hot Chili Peppers have the rights to all 13 studio albums and other publications published by Warner Music. At the moment, however, it is not yet known whether this also applies to the first four albums of the band published by EMI.
At first it was assumed in the industry that the Red Hot Chili Peppers had already completed a deal with the Warner Music Group. However, this has not yet been officially confirmed. “Billboard” estimates that, in addition to the basic intake of $ 350 million for the music catalog, the musicians could achieve around $ 26 million of additional income through the sale annually.
Red Hot Chili Peppers in a league with Bruce Springsteen
In addition to the $ 140 million, which the band has already secured from hipgnosis, the Red Chili Peppers could then receive a total of almost $ 500 million for their entire musician. In this way, they found the dimension of Bruce Springsteen’s work in the competition for securing and future new marketing of music. Its music catalog was sold to Sony Music for $ 500 million in 2021, while Pink Floyd recently received $ 400 million from Sony Music.
These are all comparatively peanuts for the sum, which were supposed to take queen with the sale of their music catalog and numerous other agreements. Sony Music allegedly leafed $ 1.27 billion for the overall package, which probably also contains merchandising rights.
Most recently, the Red Hot Chili Peppers drew attention to themselves with their appearance at the Olympic final ceremony. They played their song “Can’t Stop” on the beach in Los Angeles and celebrated the upcoming Olympic Games in the city in 2028.