Royalty Exchange, an online marketplace for royalties, announced the introduction of direct listings, a self-service feature that lets artists list their intellectual property rights for sale or rent at their own price and convenience.
Direct listings offer an alternative to the auctions Royalty Exchange typically uses to power its marketplace. With direct listings, artists provide information about their catalog, set an asking price, and publish.
Once listed, offered IP can be reviewed by potential investors, allowing artists to review and accept or reject potential bid.
The direct listings offer benefits that include faster turnaround times, and no time limits for investors to make an offer on the IP.
In the first month of testing the feature, Direct Listings featured music performed by the likes of Drake, Rihanna, and Enrique Iglesias, among others, Royalty Exchange said.
“Many artists rightfully want more price certainty for their catalog of work than auctions can provide,” said Royalty Exchange partner Anthony Martini. “Direct Listings give them that certainty and control, while still letting them benefit from the competition our marketplace creates.”
At launch, Direct Listings are only available for public performance catalogs distributed through ASCAP or BMI. Royalty Exchange says that publisher royalties will be added as well in the coming weeks.