Red Hot Chili Peppers are reportedly seeking to sell their recorded music catalog for approximately $350 million. This new deal would be in addition to the $140 million they received from Hipgnosis Songs in 2021 for the publishing rights to their music. The band currently owns the rights to all 13 of their studio albums and various releases via Warner Music, and they are estimated to generate around $26 million in annual revenue. While a potential deal with Warner Music Group has been suggested, it has not been confirmed. With the addition of the $140 million from Hipgnosis, the band could potentially amass nearly $500 million from the sale of their music assets. In comparison, Bruce Springsteen‘s catalog sold for $500 million, Pink Floyd earned $400 million, and Queen‘s catalog was purchased for $1.27 billion by Sony. The Chili Peppers currently don’t have any tour dates scheduled for 2025, though they recently performed at the FireAid benefit concert to support their hometown of Los Angeles. (Consequence of Sound)