Royalty Exchange Adds $6.4 Million Funding, 3 Industry Veterans To Advisory Board


Sign in to view read count
Royalty Exchange, a digital marketplace for royalties, has secured $6.4 million in funding, as well as added three new industry veterans to its board of advisors. The company had been seeking to raise $3 million, but said it increased its offering due to demand. 

Royalty Exchange provides a platform for rightsholders to sell a part of their royalty stream in an online auction. Artists are allowed to keep full control of their copyrights in the transactions and can still collect royalties on the rights they don't sell. 

We've experienced significant growth over the last year. But we've only scratched the surface," said Royalty Exchange CEO Matthew Smith. “Imagine if you had only two options to grow your business... either sell out completely or grow from internal cash flows only. That's the choice many artists face today. Royalty Exchange adds a whole new option for rightsholders, and we do it by bringing competition and transparency." 

As well, the company has added several key industry figures to its board of advisors, including touring veteran Bill Silva of Bill Silva Presents and Bill Silva Management; Carnival Music co-founder and songwriter Travis Hill; and Jeff King, COO of the Society of Composers, Authors and Music Publishers of Canada (SOCAN).

Continue Reading...

This story appears courtesy of HypeBot.
Copyright © 2020. All rights reserved.

Post a comment


Jazz News

All About Jazz needs your support

All About Jazz & Jazz Near You were built to promote jazz music: both recorded and live events. We rely primarily on venues, festivals and musicians to promote their events through our platform. With club closures, shelter in place and an uncertain future, we've pivoted our platform to collect, promote and broadcast livestream concerts to support our jazz musician friends. This is a significant but neccesary effort that will help musicians now, and in the future. You can help offset the cost of this essential undertaking by making a donation today. In return, we'll deliver an ad-free experience (which includes hiding the bottom right video ad). Thank you.

Get more of a good thing

Our weekly newsletter highlights our top stories and includes your local jazz events calendar.