What a piece of the Merrie Melodies? How about Bette Midler? Etta James? Santana?
Well, they have all been for sale.
One of the goals of this podcast has been to figure out all the ways music can generate money. We know about album sales, we've talked endlessly about streaming rights, we've discussed those "big fat juicy contracts" (that don't exist anymore).
But what about music futures? Ever wanted to be modern versions of Randolph and Mortimer Duke? (Go ahead look it up, I'll wait). What if you could buy the rights to a piece of music that already exists, and is already generating an income? Well, Royalty Exchange, a company based out of Denver, Colorado allows you to do just that.
But buying a song is different than buying Frozen Concentrate Orange Juice futures.
Music brings along its own set of regulations and mechanisms for reporting and tracking sales and distribution. The ASCAP's and BMI's of the world see to it that music is monitored and reported with the idea of eventually paying the owner any particular piece of music. So in the case of a song, past performance may be a predictor of future earnings (with, of course, all the usual caveats).
It's a conversation that fascinated me from the beginning.