American singer Katy Perry has sold her entire music catalog to Litmus Music for $225 million. The deal includes Perry's stake in the master recordings and publishing rights for her five albums released under Capitol Records: One of the Boys, Teenage Dream, Prism, Witness, and Smile. These albums feature Perry's first nine songs on the Billboard Hot 100 list, including Firework and California Girls. Litmus was founded by former Capitol Records president Dan McCarroll. The previous owner of Perry's rights, Capitol Records, announced in June that Perry had sold over 40 million albums worldwide and 18 of her songs had exceeded one billion streams on various platforms. Perry's sale of her music rights reflects a shift from music industry players such as Capitol Records to other companies that bet on long-term profit from music rights, especially as music streaming services gain popularity. This announcement may be a new precedent for similar deals in the future for many investors in the arts, music, and entertainment industry as selling music rights is seen as an attractive way to generate revenue amidst current consumption trends. Capital Music Group's deal is an example of a strategy that focuses on acquiring smaller companies around famous talents and high production practices. This news comes after another announcement in August when Perry sold a 33% stake in her Fragrance Group-owned shares in a perfume store and its related assets.