JKBX is the startup founded by former WMG / The Orchard executive Scott Cohen in late 2022, with the aim of selling music catalogue rights in fractionalised form.
Its latest announcement, a deal with financial trading firm GTS Securities, includes a couple of figures reflecting the company’s ambitions.
“JKBX currently has over $1.7 billion in music rights exclusively secured and anticipates launching by the end of 2023 with over $4 billion of rights,” said the startup.
JKBX plans to sell shares in these music royalties (“of hit songs and popular artists from all eras”) to retail [non-professional] investors through its marketplace. The company is keeping its powder dry on announcing which artists and catalogues have already been signed up in the $1.7bn though.
As for GTS, it’s one of the biggest “market makers” in the US financial industry, buying and selling securities – it claims to account for 3-5% of daily cash equities volume in the US.
JKBX is pitching the partnership as a combination of its own music biz knowledge with GTS’s “financial markets, trading and technology expertise”.
Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!