Now music rights as an asset class have been given further credibility over in the US, as we learn that fan investment platform and royalties marketplace SongVest has created what it claims is the first-ever public securities offering for royalties.
SongVest has received what it says is the first SEC qualification of music royalties, utilizing Regulation A+ of the US Securities Act in order to sell music royalties.
The song that received that SEC qualification is Hit the Quan (recorded by ILOVEMEMPHIS) and on Friday (October 8), the public sale of songwriter Buck Nasty’s share of producer royalties from the song started via SongVest’s platform – with 1,950 SongShares on offer at $16 per royalty share unit.
‘SongShares’ are royalty share units, which the firm describes as “the first-ever fractional shares of music royalties” from hit songs by major recording artists….. (MBW)