Legendary rock band Red Hot Chili Peppers sold their music catalog to Warner Music Group for more than $300 million, according to a Friday report.
Sources familiar with the situation told The Hollywood Reporter that the deal comprises approximately half the value of a $650 million joint venture catalog acquisition with Bain Capital. The nature of the remainder of the investment was not disclosed.
The iconic band formed in the early 1980s and is hailed for their long list of hits, including “Californication,” “Scar Tissue,” “Under the Bridge,” “Otherside” and “Can’t Stop.”
(MANDATORY CREDIT Gutchie Kojima/Shinko Music/Getty Images) Red Hot Chili Peppers, photo shoot backstage in Club Citta Kawasaki, Kakagawa, Japan, 27th January 1990. (L-R) John Frusciante (guitar), Michael ‘Flea’ Balzary (bass), Anthony Kiedis (vocals), Chad Smith (drums). (Photo by Gutchie Kojima/Shinko Music/Getty Images)
The Chili Peppers were inducted into the Rock and Roll Hall of Fame in 2012 and remain one of the biggest touring acts in music history.
Rumors that the band was shopping their recorded rights began swirling in February 2025, which Billboard reported at the time. Music Business Worldwide predicted in early 2026 that the Red Hot Chili Peppers were possibly the focus of discussions, according to The Hollywood Reporter.
Warner is an ideal fit for the Red Hot Chili Peppers. The group signed to flagship label Warner Records in the early 1990s and have released every album there since 1991’s “Blood Sugar Sex Magik.”
Red Hot Chili Peppers singer Anthony Kiedis (left), bassist Flea, and guitarist John Frusciante on the 1999 Billboard Music Awards at the MGM Grand Garden Arena in Las Vegas, 12/8/1999. Photo: Scott Gries/Getty Images
The rockers are no strangers to landing big deals through the sale of music rights. They reportedly sold their publishing catalog to what is now the Recognition Music Group, originally known as Hipgnosis Songs Fund, in 2021 in a $140 million deal.
Recognition owns publishing rights for several other major artists, including Justin Bieber, Justin Timberlake and Neil Young, according to The Hollywood Reporter. (RELATED: Britney Spears Reportedly Sells Entire Music Catalogue Amid Rumors Of A Comeback)
Neither Warner Music Group nor representatives for Red Hot Chili Peppers have publicly confirmed reports of the multi-million-dollar catalog sale as of publication.