Red Hot Chili Peppers sell music catalogue to Warner Music Group for $300 million

Red Hot Chili Peppers have sold their recorded music catalogue to Warner Music Group in a deal worth more than $300 million, according to reports from Billboard and The Hollywood Reporter.

The deal is said to include the band’s full recorded output, meaning all 13 studio albums. Warner reportedly made the purchase through a $1.2 billion joint venture with investment firm Bain Capital. The partnership between the two companies was first announced last year, although details about which catalogues would be acquired were not made public at the time.

Warner and the band already have a long history together. Red Hot Chili Peppers have released every album since their 1991 breakthrough record Blood Sugar Sex Magik through the Warner label.

In 2021, the group also sold their publishing catalogue to Recognition Music Group in a deal reported to be worth around $140 million. Those rights could soon change hands again, as Sony Music Group is reportedly in talks to acquire the company.

The sale comes at a time when more major artists are selling or reclaiming ownership of their music catalogues. Artists including Bruce Springsteen, Bob Dylan and Stevie Nicks have all sold their music rights in recent years. Others, such as Taylor Swift, have instead re-recorded older albums in disputes over ownership of master recordings.

Formed in 1982, Red Hot Chili Peppers have sold more than 120 million records worldwide and won multiple Grammy Awards. Their latest albums, Unlimited Love and Return of the Dream Canteen, were both released in 2022.