Invest in Songvest
As a follow up to the article I posted, “Letter from the Examiner”, I wanted to keep the momentum going with how we, as a music community, can become more effective in the music industry and capitalize during this economic crisis. The role of the music fan has evolved as we journey further into the information age. No longer are music fans considered consumers. They play an integral role in the decision making process in an artist’s career or with the development of a brand. With this new trend becoming more and more relevant, music fans are now given the opportunity to share in the wealth. However, the wealth is usually distributed in the form of store credit, prizes or recognition. Where’s the money? If the music fans are taking the time to help spread the word about your art or your brand; why not give them a chance to share in the financial wealth? What if there was a platform that would allow you to share in the financial wealth as well as have partial or full ownership of a product? This idea sounds like owning stocks and bonds on Wall Street, correct? Well, take that concept and apply it to music. The result is Songvest – a musical brokerage firm based in Raleigh, North Carolina, that gives music fans the opportunity to own the rights to a portion of a song’s revenue stream. Artist who have recorded the songs offered include Aerosmith, Ringo Starr, Cher, Ozzy Osbourne and The Monkees. Given the state of the music industry with declining record sales, you’re probably wondering about the amount of income you would be receiving from this revenue stream. This is not a get rich quick solution; however, it is a way to generate some income in the mean time. Aside from the royalties generated, you will receive music memorabilia such as actual Recording Industry Association of America (RIAA) certified gold and platinum albums and the songs handwritten and signed lyrics. During “The Great Recession”, let’s begin making decision that will generate long term effects. If you own shares in the stock market, who’s to say that those shares will have no value in the future? If you own real estate, who’s to say that the housing market will be worthless in the future? The same rules apply to music. A small investment now may be worth a fortune in the future. If you have a favorite song, why not own a share of the publishing. Invest in Songvest.