Business

Katy Perry takes crown as No. 1 ‘Dream’ queen

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Katy Perry is pop’s new cash queen.

The sugar-coated singer has pulled in an estimated $50 million in the past 12 year from her album, “Teenage Dream,” which has just tied Michael Jackson’s record for the most No. 1 hits from a single album.

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, with fans scooping up a total of 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 3 percent cut, according to one iindustry source.

Perry worked with producer/songwriter, Dr. Luke on some of her hits, including “Teenage Dream” and “California Gurls.”

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.

Perry’s publishing label is Warner/Chappell Music. The parent, Warner Music Group, is also bidding for EMI.