US-based online music rights marketplace Royalty Exchange has revealed that over $50 million in royalty transactions have been processed in the three years since the company relaunched in 2016.
Royalty Exchange facilities online auctions for artists and rights-holders to raise money by selling assets such as mechanical, performing and sync rights.
The news of the company’s $50m milestone was shared in a blog post yesterday (January 23).
According to Royalty Exchange, this figure was achieved through 535 separate transactions, including auctions, private syndicates, and other deals.
Around 75% of the artists who listed catalogs on the marketplace were songwriters.
Over the last 12 months, earnings from catalogs listed on Royalty Exchange ranged between $1,000 to just over $300,000.
Of those listings, 52% were smaller catalogs earning $20,000 or less in the last year.
Royalty Exchange closed a $6.4m convertible note to fund its growth back in June 2017.
Former ASCAP exec DeDe Burns joined the platform as Director of Strategic Services last year.
“The Royalty Exchange marketplace connects the creative industry with individual and institutional investors easily and efficiently.”
Said Royalty Exchange in the blog post: “That’s $50 million of new capital going into the pockets of songwriters, producers, and other rights-holders.
“None of it is subject to confusing or unfair recoupment terms, or forces artists to give up their rights.
“Every penny comes from a new source of funding that music creators previously had limited access to—the worldwide community of investors.
“The Royalty Exchange marketplace connects the creative industry with individual and institutional investors easily and efficiently.”Music Business Worldwide