Royalty Exchange’s latest music rights auction last week focused on the late Jerry Garcia, of The Grateful Dead. It was for a share of the Garcia estate’s sound recording royalties: a fixed amount of $200k, paid in annual instalments of $50k over the next four years.
The seller was planning to use part of the proceeds from the auction to support the production of “the next archival music release project produced by Jerry Garcia Music Arts” – an environmental organisation that recently launched the first Jerry Garcia NFT.
So, this was not a case of selling the rights to any recordings: simply selling a fixed amount of the royalties from those rights for a limited period of time. The winning bidder ended up paying $173k. And while there are surely better ways to invest that amount to make more than $200k back over four years, if the winner was a keen fan, supporting the archival project may have been the main draw.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…