The Red Hot Chili Peppers have sold their recorded music catalog to Warner Music Group (WMG) for more than $300 million, according to a source confirmed by Billboard. The deal was made through WMG's joint venture with Bain Capital, which has a $1.2 billion fund for music acquisitions.
The catalog includes the band's extensive discography, spanning from their 1984 self-titled debut album to their 2022 release 'Return of the Dream Canteen.' The band had been with Warner Music for most of their career, having signed with the label in 1990 after leaving EMI.
This sale is part of a broader trend of artists monetizing their catalogs, following similar deals by Bob Dylan, Bruce Springsteen, and others. The Red Hot Chili Peppers' catalog includes hits like 'Californication,' 'Under the Bridge,' and 'Scar Tissue.'
