The Red Hot Chili Peppers are pursuing a major deal to sell their recorded music catalog, with the legendary rock band asking approximately $350 million for their collection of hit recordings.
According to Billboard, the proposed sale encompasses the band's 13 studio albums and additional releases through Warner Music Group in the United States. The catalog features iconic tracks like "Under The Bridge," "Californication," "Dani California," and "Give It Away."
The recorded music portfolio currently generates around $26 million in annual revenue. The band's first four EMI-released studio albums may also be included in the deal, adding roughly $1 million in yearly earnings.
This potential transaction follows the band's previous sale of their music publishing rights to Hipgnosis Songs Fund for approximately $140-150 million in 2021. If the Chili Peppers secure their asking price for the masters, their combined music asset sales would approach $500 million.
Industry experts suggest the final deal could land between $325-340 million. The catalog's annual net label share, or gross profit, is estimated at $20 million after expenses, though some potential buyers report figures closer to $15 million.
Attorney Eric Greenspan, who managed the band's 2021 publishing deal, is handling the recorded music catalog sale. While Warner Music Group has emerged as a possible leading buyer, negotiations reportedly remain active.
The Red Hot Chili Peppers recently demonstrated their ongoing cultural impact with a performance at the FireAid benefit show at the Kia Forum on January 30, supporting Los Angeles wildfire relief efforts. The benefit concerts attracted 50 million viewers and are expected to raise over $100 million.