The latest music-focused fan-investment platform is Songbook, launched out of the UK. It’ll enable fans to invest in songs, and then get a share of their royalties from sales, streams, syncs and public performances – from the masters and/or publishing rights.
“We are an investment platform solving the two main problems artists and labels have: lack of cash and sustained promotion – whilst making music exciting again for music fans,” founder Chris Read told MBW. The company already claims companies like Abbey Road Studios, Absolute and Believe Digital as partners.
Artists One Lone Boy, Ninna Lundberg, Alex Brenchley and Bruno Heinen have campaigns listed on the platform today, raising amounts between £1,250 and £5,900. It has already been used by another artist, Albert Gold, for a three-track covers EP. “We want to evolve it and work with labels (Fierce Panda & Pussyfoot currently) and publishers as well as artists direct. We are a very attractive funding option to these guys not a direct competitor,” said Read.