The Red Hot Chili Peppers are reportedly looking for another big payday. Billboard report that the Californian funk rock icons are currently shopping the rights to the masters of all thirteen of their studio albums, as well as other efforts issued under the Warner Music umbrella.
According to Billboard, the group are reportedly looking for $350 million for those rights, with the band’s catalog bringing in an estimated $26 million annually. Billboard also note that Warner Music Group are apparently a frontrunner in potentially snatching up the rights.
It’s unclear if the band’s first four albums under EMI are also part of the sale, though those records are somewhat less desirable, generating an estimated $1 million a year in annual revenue.
Back in 2021, the Chili Peppers sold off their publishing rights to Hipgnosis Songs Fund for the princely sum of roughly $140-$150 million. At that point, the band’s catalog had already sold over 60 million albums worldwide.
