Would You Sell Your Song Catalogue?

Jeeni Blog

Helping the next generation of talent to build a global fanbase

Would You Sell Your Song Catalogue?

Today, we hear another mega-star has sold their song catalogue. This time Neil Young has agreed a deal and sold 50% of the rights to his entire back catalogue. Hipgnosis Song Fund purchased 1,180 songs by the Canadian musician in a deal that is said to be worth an estimated $150 million (£110 million), according to the BBC.

The Young acquisition comes after the company acquired the rights to 100% of former Fleetwood Mac singer Lindsay Buckingham‘s back catalogue and 50% of his future work this week, as well as Jimmy Iovine’s worldwide producer royalties. “This is a deal that changes Hipgnosis forever,” Hipgnosis founder Merck Mercuriadis said of the Young deal.

Hipgnosis are known for turning royalties into a steady income stream – with the firm making money every time one of its songs is played on the radio or featured in a film/TV show. Other recent acquisitions by Hipgnosis include catalogues by the likes of Blondie, L.A. Reid, RZA and The-Dream. The company also purchased a publishing portfolio from Kobalt in September. The sale included songs by Fleetwood Mac, 50 Cent, Beyoncé and many others.

The Neil Young sale seems to be part of the growing trend of artists cashing in on their lifetimes work. Bob Dylan was reported in December 2020 as selling to Universal Music. According to the New York Times, the music icon has sold his back catalogue for an eye-watering $300 million (£225 million), giving Universal the ownership of over 600 songs spanning a period of almost six decades.

While the deal means that Universal now control one of the most celebrated back catalogues in history, Dylan is also listed as the principal songwriter on the vast majority of efforts – which means Universal does not have to share future revenues with any other songwriters.

In the same month, Stevie Nicks agreed a deal with Primary Wave for $100million, giving them 80% of her back catalogue which includes her 70's hit 'Dreams' just as it is making a Billboard comeback after going viral in the TikTok video of skateboarder Nathan Apodaca drinking Ocean Spray juice.

To make these kinds of figures, you have to have a catalogue which will give the buyer a payback, but with younger bands such as The Killers doing the same, is this the best way for songwriters, singers and bands to create certain income? With the poor payouts from the online streaming platforms, it makes good business sense, but only for those able to create enough desired material.

For those new and emerging creative stars, companies like www.jeeni.com and Patreon have been created to redress the balance, so revenue generated goes to the creators, not the suits and pen-pushers, meaning artists of the future will possibly be able to afford to create back catalogues and continue to benefit from them.

BACK

10
Jun

Jeeni Live Global Festival on 29 August 2020

Jeeni is proud to announce the next JEENI LIVE - our series of Free Festivals for Independent Musicians and Performers, where rising stars have a golden opportunity to step into the spotlight in front of a global audience, strut their stuff, stay safe and have fun. Best of all, they appear alongside some of our favourite superstar ambassadors. On 29th August 2020 we’ll be streaming the Jeeni Live Festival across music websites and social media. The event will be headlined by Sonique (Brit Award-Winner, Best Female Solo Artist) and Grammy Award-Winner Skyler Jett (hit-maker for Stevie Wonder, Celine Dion and Christina Aguillera) supported by Jeeni chart-toppers from both sides of the Atlantic. Showtimes: 21.00-23.00 GMT - 14.00-16.00 Los Angeles. With guest appearances from multi-award-winner Natasha Watts, the godfather of punk Jesus Hooligan, platinum-seller Daisy Chute, a blues genius we found down the pub, classical electro-diva Sarah Mallock, stadium favourites Filta, and a sensational new band with an average age of eight! More to be announced soon. All our performers will promote the event and share the live streaming to their fanbases, so we expecting lots of engagement. The live stream will also be saved on Jeeni.com, Jeeni Facebook and the Independent Musicians and Performers Group to replay later. This is our first event with our new Californian partners AmplifyX, the only FINRA and SEC compliant platform that allows investors to build a portfolio by directly funding musicians. The partnership was arranged by Kelli Richards, Jeeni Managing Director USA, who was mentored by Steve Jobs at Apple where she launched and managed the Apple music and entertainment division. Co-founder of AmplifyX Bobby Kamaris says, “Our companies run in an adjacent space helping independent artists, and our philosophies and motives are very very close. What you guys at Jeeni have done in putting it together and launching is actually incredible.” • Jeeni Live is a global festival of music.• Covid19 has closed live venues, so Jeeni Live goes out across social media and selected websites.• Jeeni Live gives equal exposure to brand new talent and world-class stars, with an exciting mix of new material and massive crowd-pleasers. • Jeeni Live reaches out across the whole range of styles and ages to deliver new audiences and new fans for our poll-winning artists.• No adverts, no hype, no rip-offs, no fakes. Jeeni - the ethical alternative.

04
Sep

The CEO of Spotify is worth 2.5 billion, meanwhile, artists are paid next to nothing.

Spotify CEO Daniel Ek has come under fire for claiming that musicians should be “recording and releasing music nonstop to make ends meet.” The CEO of Spotify is worth 2.5 billion, meanwhile, artists are paid next to nothing on the streaming giant. Many major artists have criticized the unfair revenue share, infamously Taylor Swift pulled all her music from the platform demanding better support and pay for musicians in 2014. Since more and more are expressing their views on the unfair treatment of artists on major streaming services. Pink Floyd said this about Spotify, “those services (Spotify and other streaming services) should fairly pay the artists and creators who make the music at the core of their businesses. For almost all working musicians, it's also a question of economic survival." Beck said, “What Spotify pays me is not even enough to pay the musicians playing with me or the people working on the discs, It's not working. Something is going to have to give." Tim Burgess, lead singer of the Charlatans tweeted “So many artists forced to take second jobs, give up flats because they can’t pay their rent all while getting decent numbers of plays on spotify – yet the owner has enough to bid for a premier league team. It just doesn’t seem ethical to me” Music fans added "That is the state of play in the world, the artist, creators & writers can only go through these global corporates and get paid next to nothing and they get paid the most. It is true with the statement someone said. "Billionaires don't make a billion, they take a billion" Here at Jeeni we're working hard to do everything opposite to these streaming services, by offering an ethical alternative where artists are supported and treated fairly all while keeping 100% of everything they make on our platform. That's why we have taken to Crowdcube so we can scale up and continue supporting artists and performers. Join our fast-growing family of investors, and grab your rewards as you help us reach our target! Check out our pitch here. https://bit.ly/3BhEeia

04
Jun

Legendary Teddy Hayes has joined the Jeeni advisory board

We are proud to announce that the legendary Teddy Hayes has joined the Jeeni advisory board. Teddy is an Award-winning producer, film-maker and composer, working alongside the likes of Quincy Jones and Roberta Flack. Teddy pioneered the concept of creating new wealth for music artists by monetizing their fan base. His London-based talent company DaBlockOnline offered a win-win solution for everyone involved in the entertainment industry, creating a platform that gave both signed and unsigned music talent a chance to benefit from new technology. Teddy says, "The evolution of Jeeni is remarkable, and because I have already been through this process and experienced all the challenges, I know I can add value to the team. I want artists to get the recognition they deserve and earn cash in the process, but I also want to offer an opportunity for music companies to retool their thinking and create new products designed to increase sales and earn profits from a new segment of the marketplace.” Teddy Hayes Born in Cleveland Ohio, Teddy grew up with neighbour Bobby Womack, and hung out with Quincy Jones among many other music legends, before becoming tour manager for Roberta Flack. Quincy’s friend Pete Long (who discovered Luther Vandross), gave Teddy the chance to turn his talents to theatre writing which set him on the road to stardom in his own right, directing music videos, and writing and producing musical theatre. As one of the founding directors of Hip Hop in 1979 in New York, he achieved a place in hip hop history with his rap band The Funky Constellation, that produced the break beat sensation “Street Talk (Madam rapper)” promoted early on by Russell Simmons, the record mogul and creator of Def Jam Records. An accomplished singer and composer, Teddy was the main producer and creative force behind the sell-out hit theatre show “I Remember Marvin”, about the life and music of Marvin Gaye. He recently penned a book called “The Guerrilla Guide to Being a Theatrical Producer”, a how to manual designed to help people understand and enter the world of commercial theatre. In 2019 he received a Lifetime Achievement Award for his 40 years of pioneering work in the arts, and Jeeni is privileged to benefit from his experience and vision.

Jeeni Blog