We’ve been writing about the plans of startup Jkbx (pronounced ‘Jukebox’) since late 2022, when CEO Scott Cohen revealed its executive team.
It’s the latest effort to sell shares of the royalties in songs to investors in a fractionalised way, and perhaps the company with the deepest pockets in its field. Now it has announced its launch plans, going live on 12 September.
Jkbx won’t be actually selling anything then, as it continues to work through the various regulatory processes required, but it will be enabling investors to reserve their shares – or in official parlance to “place non-binding indications of interest in the Royalty Shares featured on the JKBX platform”.
Aimed at professional investors and fans alike, the first tranche of works are packaged up in affiliate company Jukebox Hits Vol. 1 LLC.
It includes shares in the royalties for songs including ‘Halo’ (recorded by Beyoncé); ‘Welcome to New York’ (Taylor Swift); ‘Rumour Has It’ (Adele) and ‘Lean On’ (Major Lazer feat. MØ and DJ Snake).
Earlier this year, Jkbx said its aim was to launch with more than $4bn of music rights. Now we’ll see how intense the interest is in buying into them.
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