Zillow is the website whose features start with providing an estimate for the value of your house, to help you gauge whether to sell or rent it out (which the site can also help with). Now music firm Royalty Exchange has launched an app for songwriters that it’s pitching as ‘the Zillow for royalties’.
That’s “a free resource that provides songwriters an instant valuation and analysis of their catalogue,” as the company puts it. “We call it the Know Your Worth app… The app analyses songwriters’ public performance statements from their PRO, and automatically produces a personalised report with details that until now were unavailable from a single source.”
That includes a dollar-range estimate for their catalogue’s value; figures for the lifetime and last year’s earnings for that catalogue; a list of its top-earning songs; and its sources of revenue by format, from radio and streaming to TV and films.
It even calculates public-performance royalties from streaming services using a ‘Latte Index’ – “the number of streams on each service needed to buy a Starbucks Latte”.
Royalty Exchange says the resulting figures will help songwriters take better business decisions, although (like Zillow) the motivation here is also the hope that some of those decisions will involve using its own further features for taking external investment in their catalogues.