Contemporary Gospel, Featuring Zacardi Cortez

$23,500

closing price

Auction Closed

Top Bid: Pamela C

Historic royalty income is no indication of future royalty income. Future royalty income is dependent upon future sales and licensing revenue generated by the sound recordings or compositions associated with this listing.

Starting Price: $15,000
Bidding Increment: $500
Closing Price: $23,500
End Date: Jun 22, 2017, 2:00 PM MDT
Investment Term: Life of author + 70 years
Last 12 Months' Royalties: $3,632
Royalty Type: Public Performance
First Payment: September 2017
Fees: $500 BMI Payee Account Fee*

*BMI charges a one-time fee of $500 to open a new payee account, which will be debited from the payee's first royalty distribution. Once opened, multiple royalty streams can be routed to the buyer's payee account. If you already have a BMI payee account, there is no fee.

Description

Invest in a catalog that features a mix of recent gospel and contemporary Christian hits. Earn royalties from well-known Christian artists such as R&B-style vocalist Zacardi Cortez, the First Lady of Gospel Shirley Caesar and more. The last four quarters have generated $3,632 in royalties.

Up for bid is 50% of the publisher's share of public performance royalties for this catalog. Its highest earning song is the 2013 release “1 on 1” performed by Zacardi Cortez. The track accounts for 40% of the historic royalties.

The song was a radio smash hit and spent five weeks at No. 1 on Billboard's Gospel Airplay chart. BMI named it among its Top-Performed Gospel Songs of the Year and also won an ASCAP Rhythm and Soul award for Winning Gospel Songs in 2014. The song has some crossover appeal as well, reaching No. 21 on the Billboard Adult R&B chart. Finally, “1 on 1” was featured on the 2015 album Billboard #1 Gospel Hits, chosen among others as “The Greatest Gospel Songs of the Decade.”

Zacardi Cortez's more recent hit, “YDIA,” released in 2015, accounts for 28% of the catalog's earnings. The song peaked at No. 2 on the Gospel Airplay charts in 2016 and looks to be still enjoying radio income through 2016. The catalog also features Earnest Pugh's track “Trade It All” and “You Stayed” by Shirley Caesar, known within the genre as the First Lady of Gospel with a career spanning over sixty years.

Key Drivers

1.) Radio is frequently a launching point for a song or artist. Songs that get radio play often build a foundation of streaming and other types of income as the radio royalties winds down. With this catalog in particular, it's important to note that 93% of the royalty stream has come from radio.

2.) According to the Gospel Music Association's 2015 industry overview, 68 percent of Americans listen to Christian or Gospel music. It commands 6.6% of overall U.S. music sales, more than jazz, blues, and classical combined.

What is being sold?

50% of the seller's interest in the publisher's share of public performance royalties attributable to select musical works in the seller's catalog of songs administered by BMI. See the “Financials” tab for a full track list.

How does this asset make money?

Every time “1 on 1” or any song in this catalog, is played on the radio, Sirius XM or TV, or any other type of public performance, you earn royalties. BMI makes payments quarterly and the first distribution you will receive is September 2017.

What rights are included?

  Musical Composition Sound Recording
Copyrights included? No
Rights:
Mechanical
Public Performance
Sync
Sales
Non-Interactive Streaming
Sync
Sources: Internet Streaming, AM/FM & Satellite Radio, TV/Film/Commercial Performances, etc. Internet Streaming, Satellite Radio, Digital Downloads, CD Sales, TV/Film/Commercial Placements & Performances, Samples, etc.
Distributors: BMI

About the Royalty Distributor

BMI represents more than 10.5 million musical works created and owned by more than 700,000 songwriters, composers and music publishers. BMI supports businesses and organizations that play music publicly by offering blanket music licenses that permit them to play more than 10.5 million musical works.

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