Fans Will Soon Be Able to Buy Stock in Eminem Songs
Source: Instagram
You Will Soon Be Able to Buy Stock into Some of Eminem's Most Iconic Songs
If you ever wanted to buy stock in rapper, now is your opportunity.
For years, Jeff and Mark Bass were two of Eminem's most reliable contributors, producing classics like "Rock Bottom," "Cleanin' Out My Closet," and "Lose Yourself."And now they are making it so you can invest in some of those songs.
WATCH:Ed Sheeran Tells Story Of How Eminem Made Sure Kendrick Lamar Didn't Use Ghost Writers
Jeff and Mark, who are known as the Bass Brothers, are selling up to 25 percent of what they own of Eminem's early catalog to Royalty Flow, a startup started by the online marketplace Royalty Exchange. The Bass Brothers don't regularly work with Eminem anymore, so the catalog is material from the years 1999 to 2013.
\u201cMeet Royalty Flow: a new way to invest in the music industry\u2019s growth through the world's biggest music catalogs https://t.co/PSfnIV29MS\u201d— Royalty Exchange (@Royalty Exchange) 1506352111
Royalty Flow will then list their percentage of the catalog on the stock exchange after they raise anywhere from $11 million to $50 million in funding.
Eminem has nothing to do with this venture. A rep for the rapper talked to Variety and said:
"Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company."
LISTEN: Eminem And Redman Salute Each Other On Shade 45
According to the Financial Times, they are asking for $2,250 for 150 shares of the stock. The idea is that, because of the rise of streaming, the value of music royalties will continue to go up. (To put things in some context, Goldman Sachs predicted that global revenues would go up to $41 billion. Last year, the revenue was $16 billion.)
If all goes well, Eminem's catalog will just be the start, withRoyalty Flow investing in more catalogs.
SOURCE: FinancialTimes,Variety
