Red Hot Chili Peppers Sell Catalogue to Warner Music Group

The Red Hot Chili Peppers have sold their catalogue to Warner Music Group. As per Billboard, the US rock band sold their recorded music catalogue to Warner Music Group in a deal worth more than $300 million, spanning 13 studio albums. It follows the band selling their publishing rights in a $150 million deal five years ago. The purchase of their recorded music catalogue was part of a larger deal involving Warner Music Group and Bain Capital, a joint venture that has so far acquired $650 million worth of music and publishing rights. According to Billboard, the Red Hot Chili Peppers deal makes up half of that purchase. In May 2015, the Red Hot Chili Peppers sold their publishing rights to Hipgnosis Songs Fund for around $150 million. According to The Hollywood Reporter, those publishing rights could change ownership again as Hipgnosis (now known as Recognition Music Group) is in the process of being acquired by Sony Music as part of a multi-billion dollar deal. The Chili Peppers’ recorded music catalogue reportedly generates around $26 million annually. It had been on the market since last year with a roughly $350 million price tag, Billboard previously reported. Warner Music Group made sense as the buyer, as the label has been home to the band since 1991’s Blood Sugar Sex Magik. The band's first four LPs were put out by EMI. The Red Hot Chili Peppers last released Unlimited Love and its follow-up Return of the Dream Canteen in 2022. At the time of writing, the band and WMG haven't commented on the recorded music catalogue deal.