DENVER, CO (CelebrityAccess) — Royalty Exchange has launched a new app that it claims will provide songwriters and rightsholders with a better idea of how much their intellectual property is worth.
Billed as “Zillow for songwriters” — a reference to the successful real estate data aggregator — the Know Your Worth App collects data from a variety of sources to provide catalog valuations. The app is free and requires no obligation to work with Royalty Exchange to view the results.
The app analyses songwriters’ public performance statements from their PRO, and automatically produces a personalized report with details that until now were unavailable from a single source.
Data analyzed by the app includes: A dollar range estimate of the catalog’s fair market value; A full accounting of the lifetime and last 12 months earnings for the catalog provided; A list of the catalog’s top-earning songs; The catalog’s top sources of revenue by format (radio, streaming, TV/Film, etc.); and Year-over-year trending data for all earnings, top songs, and top formats.
As well, the app provides analysis of what each songwriter earns in public performance royalties on specific streaming services through a metric we Royalty Exchange calls the “Latte Index” —or the number of streams on each service needed to buy a Starbucks Latte.
At launch, the app supports statements from PRO organizations ASCAP and BMI with additional royalty sources planned.