Primary Wave Finalizes $200 Million Acquisition of Britney Spears' Music Catalog Rights

Pop icon Britney Spears has finalized the divestiture of her extensive music catalog rights to the independent publisher Primary Wave in a substantial financial transaction within the music industry. The agreement, formally executed on December 30, 2025, is reported by industry sources to carry a valuation near $200 million USD, drawing a parallel to Justin Bieber's 2023 catalog acquisition.

The assets transferred to Primary Wave encompass Spears' artist royalties and her share of publishing rights across her discography, which defined the late 1990s and early 2000s pop era. Key compositions included in the transfer are generational anthems such as “...Baby One More Time” and “Toxic.” However, Sony Music retains the ownership of the original master recordings for these tracks. Spears, recognized as one of the best-selling female artists globally with sales exceeding 150 million records, now joins established musicians monetizing their enduring legacies.

This transaction underscores the elevated financial premium currently placed on established music catalogs within the prevailing streaming economy, where licensing for film, television, and commercial synchronization is increasing. Primary Wave, founded in 2006 by Lawrence Mestel and headquartered in New York City, has secured stakes in catalogs including those of Bob Marley, Whitney Houston, and Stevie Nicks. The structure of the deal reflects the complex division of music revenue, as Primary Wave's acquisition centers on the performing artist royalties and publishing share, which are tied to the composition and lyrics, rather than the sound recording itself.

Spears, who is managed by Cade Hudson, follows a period of significant personal and professional transformation, including the termination of her conservatorship in 2021. By placing her catalog under the stewardship of Primary Wave, which actively develops branding and new partnerships, Spears aligns with a strategy employed by contemporaries seeking to maximize the long-term financial positioning of their artistic output in the digital ecosystem. The move solidifies the trend of legacy artists securing substantial capital by selling off future royalty streams generated by their recorded music's enduring popularity.