Hype has been building around the launch of music royalty-share sales platform Jkbx for some time, but yesterday the service opened its doors.
It’s not actually selling any royalty shares yet, but people can “make a reservation” to buy later. At the time of writing, there are 94 listings on the site, offering shares in the royalties for compositions and sound recordings.
As an example, 50,724 shares are being offered in Ryan Tedder’s share of ‘Halo’ (recorded by Beyoncé), with a listing price of $28.61 meaning a market cap of $1.5m.
Jkbx is providing stats including an estimated royalty share yield (3.34% in this case); two-year average revenue ($51.3k) and for people who sign in, additional streaming metrics.
As part of the launch, Jkbx also opened its ‘Creator Program’ for songwriters and artists whose work is featured – even if they don’t actually own those rights themselves.
CEO Scott Cohen announced plans for the program at the Music Ally NEXT conference in April.
“We have no contractual obligation with the artists. We’re just saying that it’s the right thing to do,” he said then. “If people are trading in music, shouldn’t we find another way to include the songwriters and the recording artists?”
As part of the program, Jkbx will build pages showcasing the musician. Among the ‘Featured Creators’ on its website already are OneRepublic, Kygo, Diplo, B.O.B and Tedder.
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