The Anthony Kiedis fronted band are looking to sell off their recorded masters for $350 million, according to Billboard. It is estimated that RHCP’s catalog brings in $26 million a year for the band.
Currently, the band owns the masters and rights to all of their 13 studio albums and other releases issued through Warner Music, though it is unclear whether they fully own their first four albums which were released by EMI.
Billboard is reporting that RHCP may have already struck a deal with Warner for the masters catalog, it has yet to be officially confirmed.
This would be on top of the $140 million that they have already been paid by Hipgnosis Songs for the publishing rights and songwriting catalog to their music in 2021.
If the new $350 million deal goes through, it will amass the California band nearly $500 million for all their music assets.
Red Hot Chili Peppers are the latest band who have sold, or are looking to sell, their music catalog. In 2021, Bruce Springsteen sold his to Sony Music for $500 million, while Pink Floyd sold theirs to Sony for $400 million.
The most lucrative deal a band has made to date was Queen, who sold their music catalog to Sony for $1.27 billion last year – making this the most expensive music acquisition ever.
