Red Hot Chili Peppers have sold their recorded music catalog to Warner Music Group for more than $300 million, reports Billboard. The deal includes all of the band’s recorded output, including their 13 studio albums, which reportedly generate around $26 million annually. Although the band owned their recorded catalog independently for the past year, during which they were allegedly seeking $350 million for the package, Warner is a logical buyer to foot the bill, as the label originally released Blood Sugar Sex Magik and Californication.
This deal is not to be confused with Red Hot Chili Peppers’ big sale in 2015, during which Hipgnosis Songs Fund bought the band’s publishing rights for around $150 million. However, those different rights may eventually change ownership anyway because Sony Music is currently courting Hipgnosis (now known as Recognition Music Group) for acquisition in part of a multi-billion dollar deal.
In 2022, Red Hot Chili Peppers dropped two albums, Unlimited Love and Return of the Dream Canteen, which remain their most recent records. They now join the ranks of other high-profile artists who have sold their catalogs to juggernaut companies, including Bob Dylan, Bruce Springsteen, and Justin Bieber, while artists like Taylor Swift and Dua Lipa are reversing course by buying back their own material.
