Red Hot Chili Peppers have sold their 4-decade-spanning music catalog to Warner Music Group for $300 million.
The Hollywood Reporter has detailed that the rock band were among the musicians acquired by WMG one year following their $1.2 million joint venture with Bain. In a recent earnings report, it was revealed that $650 million was spent on acquisitions since the launch of the WMG and Bain partnership.
Red Hot Chili Peppers, composed of lead singer Anthony Kiedis, bassist Flea, lead guitarist John Frusciante, and drummer Chad Smith, previously sold their publishing catalog to Hipgnosis, now Recognition Music Group, in 2021 for $140 million. Since being established in the early 1980s, the 3-time Grammy-winning band have released 13 studio albums, including their seminal records, 1989’s Mother’s Milk, 1991’s Blood Sugar Sex Magik, and 1999’s Californication.
Recognition, which could soon be under the ownership of Sony, has also acquired the publishing rights of Justin Bieber, Justin Timberlake and more. Despite the catalog sale, Red Hot Chili Peppers continues to tour and their last album, Return of the Dream Canteen, was released in 2022.
Britney Spears and the estate of late producer and bandleader Quincy Jones are other performers who recently sold their catalogs, also marketing portions of their music rights. Announced in February, the deal for Spears’ catalog transferred to Primary Wave includes her biggest hits, “... Baby One More Time,” “I’m a Slave 4 U,” and more.
