The Red Hot Chili Peppers are planning to sell their music catalog for US$350 million, which at the current exchange rate is close to 2 billion reais. Currently, the material generates US$26 million (R$149 million) in profit for the band.
According to Billboard , the negotiations involve all of the band's albums since Blood Sugar Sex Magik (1991). Currently, the band owns the master tapes of their thirteen studio albums and all releases made by Warner Music , the main party interested in the transaction. (via NME )
It is unknown whether the quartet retains the rights to their first four albums, released by EMI . The band ended their partnership with the label in the early 1990s and moved to Warner , with whom they continue to collaborate to this day.
According to the magazine, the deal is estimated to generate $20 million in annual gross profit for the label. Warner may reduce the total purchase price, as it could take the company a long time to recoup its investment.
In 2021, the Californian quartet had already earned US$140 million from the sale of publishing rights to their music to Hipgnosis Songs .
Red Hot Chili Peppers isn't the only one seeking catalog sales.
In recent years, there has been a significant increase in transactions of this type. In the case of deceased artists – the sale of their respective estates.
In 2024, Queen sold their catalog to Sony Music for US$1.27 billion – the largest transaction of its kind ever. In the same year, Kiss and Pink Floyd also sold their respective catalogs.
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