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

22
Jul

Investors flock to back anti-rip-off crowdfunder

the Jeeni platform in action Yesterday's Government report took months to come to a conclusion that every musician has known for years. Performers are getting ripped off by the streamed music giants. "While streaming has brought significant profits to the recorded music industry, the talent behind it sees pitiful returns," said Julian Knight, MP. Now, Her Majesty's Government intends new legislation to give musicians and songwriters the right to "equitable remuneration", but like so many empty promises and good intentions that may be an ambition which proves impossible to deliver. But there is an ethical alternative to the problem. It's an online app called Jeeni. On Jeeni, artists and creatives keep 100% of everything they earn, and thousands of performers are already on board, with an audience outreach that has grown to over two million. The growth of Jeeni has been so fast that they marked yesterday's Government promises by turning to crowdfunding to expand their capacity to meet demand, raising over £46,000 in a few hours. Check out their campaign HERE and join the list of supporters and celebrities who are flocking to the cause.

03
Sep

Own a stake in this Portsmouth-based start-up for just £10, and help musicians gain recognition and revenue!

Jeeni, the social music platform that brings artists closer to their fans – and shares revenue ethically – is poised to become the first Portsmouth-based start-up to go on Crowdcube for its third round. We have already raised 95% of our £100K target in four days. If you want to see our pitch click HERE. With 350million streamed music subscribers and market growth up by 39% this year, Jeeni is likely to ride the wave and be a huge success, not only with unsigned musicians and performers but with their superfans. “We’re standing by to raise £100,000 for 2.4% with a pre-market valuation£4M,” says Jeeni founder Shena Mitchell. “And while we are already negotiating with several major investors, the beauty of Crowdcube is that the artists themselves can actually own a stake in the company for as little as £10.” Shena continues, “Jeeni’s mission is to support unsigned music and performers, by helping them build a fanbase. We aim to fast-track careers in the music business, and make sure they take the lion’s share of the revenue that’s raised. Jeeni is needed more now than ever and we have proved that the demand is high. Currently we can only support 100,000 videos, so we must now move up a gear as we head for global roll-out. This Round Three investment will be used to scale up again and launch our next-generation platform. It will also be used to develop our IoS and Android apps." When the financial backing has been secured and we go live, we’ll be creating new jobs in the area, which is great for the local economy. When you consider the wealth of music talent in Portsmouth – hosting over 2,000 music events a year with Victorious, The Guildhall, Band Stand, Wedgewood Rooms, and all the Portsmouth Festivities and pubs – we’re alive to the opportunities of our local music culture, creativity and talent. But with live venues locked down for now, the online opportunity of Jeeni is needed more than ever. It’s so cool to think someone reading this might choose to invest in Jeeni now with just £10, and then use Jeeni to build their own fanbase for fame and success! We’re going to try hard to make sure that happens.” JEENI is currently inviting investment on Crowdcube. To find out how to get involved please join our mailing list for updates or check out our fundraising pitch. If you want to see our pitch click HERE.

03
Sep

Interview with Opera Star Joy Tamayo, Inside Story at Jeeni

Kate Stewart’s Inside Story interview with the great opera soprano Joy Tamayo, star of Spring Street, global premiere on Jeeni.com Spring Street is an opera that was created by one of Jeeni’s biggest supporters Pete Wyer. How did he approach you to take part? With Pete we worked together back in 2019 for the Twilight Chorus, we performed this at the Brooklyn Botanical Gardens. But we weren’t actually introduced then. In 2020 January I wrote him an email, inviting him to an opera that I wrote which we turned into a film. He wrote me back and said “WOW! You guys are making something”, and so we started talking about projects and he sent me a song and he said, “a soprano is doing this, what do you think of it?” And that just started the ball rolling so to speak for this project. What did you think of the project once Pete described it to you? His music really excited me; the Twilight Chorus resonated with me well. And with this project when I first looked at the music, I thought it was beautiful that he found a way to commemorate his friends. This is something I love doing as well with my group, it’s storytelling and its wonderful music. So I immediately said yes, before he started giving me the music. And without even knowing the rest of the performers. You have been performing since around the age of three, what made you choose opera over other genres of music? I don’t think I chose opera, at three I was mostly singing with my dad, my parents really inculcated this love for music at such a young age. And I remember my dad would play the guitar and I would sing with him. So, this love for singing in particular I think brought me to the realisation that I love to do music. I got into the Philippines high school for the arts when I was 12 and it was just a normal progression from a love for music and focusing on opera. Because that was the type of music that the school was also teaching. In retrospect, I love other types of singing as well. And the pandemic has allowed me to explore other types of music. Also realising that you can just sing in your living room and have a setup, your microphone, your preamp and file-sharing as we did with Pete’s work, it was all online. So back to the question, I didn’t choose opera, I just thought music was wonderful. And I had an easy time expressing myself through music and opera. And now I’m exploring with singing and not really minding the boundaries and structures. I really love the discipline and rigour that comes with opera singing. So I still bring that with me even with other types of music that I’m exploring right now. You haven’t actually been able to meet many of the other cast members in person yet. So has it been strange working on a brand-new opera in a global pandemic? Yes, to say the least, New York being silent, for fourteen months or so, it’s been odd. I met Heday one of the performers this year, we did a video. But I was just going around with them, I didn’t have a big part in the video. But I was able to say Hi to Maren and Heday. It’s been strange but you make the best of the situation and it’s been really exciting and fun. So, Spring Street is based in Manhattan and you’re based in Brooklyn but as you said you are originally from the Philippines. So how did that relocation come about? I got a scholarship at Crane School of Music, in upstate New York and so followed the American dream and moved here. It’s been a wild ride! For us in the Philippines your always thinking of the next step and for me being offered a scholarship, exploring another country, and also making sure that I do my best at the particular genre that I was exploring at that time, which was opera, it felt like the best move for me at that point. So, I moved to upstate New York and then I ended up here in Brooklyn and it's where I’ve been since 2014. So, Joy as well as being an amazing singer your also an actress and I’ve seen clips of the opera and your facial expressions in Spring Street are well, full of Joy I guess. It looks like you had a lot of fun with it, did you enjoy taking part? Yes, that was super fun! I remember it was around probably the end of winter when we shot some of the videos, and as you can imagine we were stuck at home for the longest time. So to be able to go outside and shoot some videos, was really fun. And to leave the living room, you know most of the videos were shot in the living room. And I remember I would send some videos to Pete, and he would say “you know what we could use this for this part” just like a collaboration back and forth. Your performance in spring street is going to be streamed worldwide on Jeeni.com in a couple of months too, a far bigger audience that could fit in an opera house. How do you feel about that? It’s hard to wrap my head around that, I haven't really contemplated the meaning of that big of a project. Now everything is online, a cat video can have millions of views, more than for example the Mets latest opera. But it’s certainly exciting. With this pandemic it seems like all of us are doing things; making art, making music, building communities in the living room, so it’s about file sharing, “oh watch this” or “have you seen my latest video”. There’s so much stuff online so I’m very excited about doing a similar thing. To finish today, Joy you’re a soprano which means that you have the highest vocal range of all of the vocal types. So I don’t suppose you could give us a little tiny demonstration? Although it is early morning in New York, so she hasn’t had the chance to warm up Joy complies happily. “No pressure” she laughs and proceeds to demonstrate her amazing vocal skills. You can watch the Inside Story Interview with Joy Tamayo by clicking here: Joy Tamayo Inside Story Spring Street Opera Joy Tamayo will be performing in the exclusive world première of Spring Street and the full performance can be watched Saturday 24th July 2021 on https://jeeni.com/springstreet/ Inspired by life on Spring Street, Manhattan – setting the poetry of Steve Dalachinsky and Yuko Otomo to music by Pete Wyer – wildly eclectic like the street itself.

Jeeni Blog