(CelebrityAccess) – US-based online music rights marketplace Royalty Exchange revealed this week that it has exceeded $50 million in royalty transactions since the company’s relaunch in 2016.
The news of the company’s $50m milestone was shared in a blog post Wednesday (Jan. 23).
According to Royalty Exchange, which facilitates online auctions for artists and rights-holders who want to sell portions of their mechanical, performing and sync rights, the figure was achieved through 535 separate transactions over three years spanning a diverse range of creators, catalogs, and fundraising options.
According to Royalty Exchange, around 75% of the artists who listed catalogs on the marketplace were songwriters, with 52% being smaller catalogs earning $20,000 or less in the last year.
“That’s $50 million of new capital going into the pockets of songwriters, producers, and other rights-holders,” noted RE in its blog post. “None of it is subject to confusing or unfair recoupment terms, or forces artists to give up their rights. Every penny comes from a new source of funding that music creators previously had limited access to—the worldwide community of investors. The Royalty Exchange marketplace connects the creative industry with individual and institutional investors easily and efficiently.”
Notable rights for songs and catalogs that appeared on the marketplace over the last three years include Bette Midler’s “The Rose” and Kanye West’s “Mercy.”
