Grammy-Winning Band: Cage The Elephant

Earn established royalties from a collection featuring the Grammy-winning, American rock band Cage the Elephant!

$411,000

closing price

Auction Closed

Top Bid: Harry S

The Theoretical IRR is a formulaic guideline based on an extrapolation of the normalized, historical earnings trend of the catalog. The Theoretical IRR is not a guarantee of future performance. It should be used for comparison purposes only. Each catalog has its own risk factors and the Theoretical IRR is not based upon a specific analysis of this catalog. Click here to view the basis for all Theoretical IRR calculations.

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: $240,000
Bidding Increment: $4,500
Closing Price: $411,000
End Date: Mar 18, 2019, 3:15 PM MDT
Dollar Age:

8.3 Years

Last 12 Months' Royalties: $46,714
Investment Term: Life of author + 70 years
Distributors: BMI
Rights Included:

Public Performance 

Interests Included:

Songwriter (World)

Track List:

Track List

First Distribution: March 22, 2019
Distribution Frequency: Quarterly
Buyer Fees:

$500

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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

Description

Invest in the songwriter share of public performance royalties from tracks performed by the popular rock group Cage The Elephant. This catalog spans the band’s first three studio album releases, featuring hits like “Ain’t No Rest For The Wicked,” “Come A Little Closer,” and “In One Ear.”

The collection’s top-five earning songs have release dates ranging from 2008 to 2013. This means the catalog has a Dollar Age of 8.3 years. (Read more about Dollar Age and why it’s important here). Not only have these tracks generated royalties for upwards of 10 years, but royalties are also growing thanks to strong international income and domestic streaming (audio and video).

The highest-earning title (and arguably the band’s most popular single) is 2008’s “Aint No Rest For The Wicked” with 33% of last year’s income. The multi-Platinum track is off the band’s self-titled Cage The Elephant album. Impressively, over ten years after its release, “Ain’t No Rest For The Wicked” still generates consistent radio income — averaging $3,500 year for the last three calendar years.

Other top-performing songs include “Cigarette Daydreams” and “Come A Little Closer” from 2013’s Grammy-nominated Melophobia. Combined, these two titles account for 30% of last year’s income, and both songs' income grew in the last year. Rounding out the top-earning songs is “Shake Me Down,” which received critical acclaim and topped two Billboard charts at No. 1 in 2011.

One final compelling feature about this Cage The Elephant collection is that five of the six income sources grew year-over-year. Most notably, international royalties have increased thanks to payments from Canada and the UK, while domestic streaming increased 8% of the previous year.

Key Drivers

Dollar Age This collection of songs has a Dollar Age of 8.3. This means the majority of royalties earned in the last 12 months came from songs that have collected royalties for more than eight years. A high Dollar Age like this suggests stability and longevity.

The highest-earning track — “Ain’t No Rest For The Wicked” — was released in 2008, and royalties continue to grow thanks to international sources and streaming income (both audio and video). A catalog containing mature works with consistent (and even growing earnings) is something worth noting as an investor. This can help sustain a catalog's earnings moving forward.

Continued Relevance: All four of Cage The Elephant’s studio albums have received both commercial and critical success. They’ve also won a Grammy for Best Rock Album for 2015’s Tell Me I'm Pretty. The band toured with The Rolling Stones in 2017 and more recently headlined 2018’s New Orleans Jazz and Heritage.

Cage The Elephant just released an incredibly successful No.1 single on March 8, 2019, and their fifth studio album, Social Cues, is set to drop on April 19, 2019. Accompanying that, the band is currently on a worldwide tour, highlighted by a co-headlining amphitheater trek with Beck.

While the new songs are not included in this auction, new albums and tours can certainly boost an artist's back catalog. The release of new music can lead to discovery among first-time listeners, and re-engage existing fans.

Case and point, upon release of the band's second album, Thank You, Happy Birthday, in 2011, Cage the Elephant reappeared on the Billboard 200, this time reaching number 59. With a highly-anticipated album release and a worldwide tour, an investor should take note of this back catalog offering.

About the Royalty Distributor

Broadcast Music, Inc. (BMI) is one of four United States performing rights organizations, along with ASCAP, SESAC & Global Music Rights. It collects license fees from music users on behalf of songwriters, composers, and music publishers and distributes them as royalties to those members whose works have been performed. For more information on BMI’s distribution schedule, click here.

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