Red Hot Chili Peppers to Sell Music Catalog for Up to $350 Million
The Red Hot Chili Peppers are reportedly seeking to sell their recorded music catalog for approximately $350 million, according to Billboard sources. The potential sale includes hit songs like "Californication," "Under the Bridge," "Snow (Hey Oh)," "Otherside," "Give It Away," and "Can't Stop."
RHCP performing live on stage
The band currently owns rights to their 13 studio albums and additional releases through Warner Music Group (WMG), though ownership of their first four EMI-issued studio albums remains unclear. Their extensive catalog spans from their 1984 self-titled debut to their latest releases "Unlimited Love" and "Return of the Dream Canteen" (both 2022).
Eric Greenspan of Myman Greenspan Fox Rosenberg Mobster Younger & Light is leading the deal negotiations, similar to his role in the band's 2021 publishing rights sale to Hipgnosis for $140-150 million. Industry experts suggest the final sale price may land between $325-340 million.
Billboard analysis indicates the catalog generates approximately $26 million in revenue before expenses, with a net label share (gross profit) of around $20 million. If successful at the asking price, the band's total earnings from both publishing and recorded music rights would reach approximately $500 million.
The deal's specific terms regarding which recorded assets are included may vary among potential buyers, though all rights owned by the band are available for purchase.