Photo Credit: Red Hot Chili Peppers by Raph PH / CC by 2.0
The Red Hot Chili Peppers are reportedly looking to sell their recorded music catalog for upwards of $350 million, sources say.
According to Billboard, sources say the Red Hot Chili Peppers are shopping for suitors for their recorded music catalog for as much as $350 million. Hits up for grabs include “Californication,” “Under the Bridge,” “Snow (Hey Oh),” “Otherside,” “Give It Away,” and “Can’t Stop.”
The band reportedly owns the 13 studio albums and other releases via Warner Music Group (WMG) — although sources could not confirm if they own their first four studio albums issued through EMI. Regardless, all rights possessed by the band are up for offer.
Altogether, the Red Hot Chili Peppers have released 13 studio albums, two live albums, and 12 compilation albums. Formed in their native Los Angeles in 1982, their albums include the eponymous Red Hot Chili Peppers (1984), Freaky Styley (1985), The Uplift Mofo Party Plan (1987), Mother’s Milk (1989), Blood Sugar Sex Magik (1991), One Hot Minute (1995), Californication (1999), By the Way (2002), Stadium Arcadium (2006), I’m With You (2011), The Getaway (2016), Unlimited Love (2022), and Return of the Dream Canteen (2022).
Sources tell Billboard that Eric Greenspan of Myman Greenspan Fox Rosenberg Mobster Younger & Light has been spearheading a recorded music catalog deal, as he did for their publishing rights in 2021. Back then, the Red Hot Chili Peppers sold their music publishing assets to Hipgnosis for between $140 million and $150 million.
If their recorded music catalog fetches the $350 million asking price, their assets for their complete body of work will have netted them around $500 million altogether. But it’s more likely to go for between $325 million and $340 million, according to some sources.
Billboard estimates the net label share (NLS) — gross profit — of the band’s catalog would be around $20 million, with $26 million in revenue before subtracting production, distribution, and other expenses. The outlet notes that it’s unclear if all potential suitors for the Red Hot Chili Peppers’ catalog were offered the same set of recorded assets.
