Katy Perry's 'Teenage Dream' Rakes in Almost $50M
Katy Perry pulled in almost $50 million in the past year from her album “Teenage Dream,” which just tied Michael Jackson’s record for the most No. 1 hits from a single album, the New York Post reported Friday.
Perry topped Billboard’s Hot 100 chart yet again this week with her party jam “Last Friday Night (T.G.I.F.),” making her the first woman and only the second artist overall to have five No. 1 songs from the same album. The record equals that held by Jackson’s “Bad” album.
“Teenage Dream” has sold some 1.7 million copies in the US, with fans also scooping up 20 million singles tracks, according to Nielsen SoundScan.
With albums retailing for roughly $13 and singles for $1.30, her financial partners will share more than $48 million, minus marketing costs and retailers’ share.
Top-tier artists like Perry can command between 15 percent and 20 percent of music revenue, while music producers get around a three percent cut, according to an industry source.
Perry’s chart-topping album comes at an opportune time for EMI, which houses her label, Capitol Records. Lender Citigroup is looking for a buyer for EMI, which it repossessed from Terra Firma, and is conducting second-round bids.