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Has anybody else been contacted by The Royalty Exchange? The concept of selling a piece of your royalties has never been pitched to me before. I don’t need it but it’s an interesting concept… if the deal is equitable.
That is an interesting concept that brings up a whole bunch of questions! I wonder for one is it only material signed exclusively up for auction? If it is non-exclusive tracks, who is going to all the possible places a composer has deals with to change the payout information? Are they including RF payments? And, it’s possible to miss a few sites right? If the composer has been sending out tracks for many years or not keeping good records.
The completed auctions show a number and say “closed”. They don’t necessarily say the posted number is what it sold for. It could be an ask that never received any bids. I wonder if a bidder is allowed to listen to the catalog before bidding? I mean what if the music is no good or dated sounding? I don’t know, lot’s of questions but an interesting concept.
I was actually contacted by them today. To me it sounds like a terrible idea, and one that is open to all kinds of potential problems.
Before striking out on my own as a composer I worked for a software company writing music for a mobile app. The moral of the story is that venture capital guys wanted to take the company in a horrible direction, they ultimately crushed us, and it ended with myself and a few others in a 3 year lawsuit… So the last person I would ever trust to respect my percentage of left over royalties is a “high net worth investor”.
I could definitely be wrong, but to me it sounds VERY predatory.
I just got an email from them and came here to see if this was being discussed. I tend to agree with soundspot — it sounds like a bad deal for music composers/producers.
As an update they’ve contacted me 3 times in the past week and a half… If anyone does consider trying it out I’d recommend talking to a lawyer… With the DOJ decisions in their current state I could see this being potentially disasterous…
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