Joey Bada$$ Songwriting Royalties

With consistent quarterly earnings, this streaming-driven hip-hop offering features tracks from Joey Bada$$, J. Cole, and more.

$26,000

closing price

Auction Closed

Top Bid: Warren L

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: $22,000
Bidding Increment: $800
Closing Price: $26,000
End Date: Dec 16, 2019, 1:00 PM MST
Dollar Age:

4.47 Years

Last 12 Months' Royalties: $8,343
Investment Term: 10 years*
Distributors: BMI
Rights Included:

Public Performance

Interests Included:

Songwriter (World)

Track List:

Track List

First Distribution (paid 30 days from receipt):

January 17, 2020

Distribution Frequency: Quarterly
Buyer Fees:

1% of closing price or $500 (whichever is greater)

* Please see the FAQ tab for more information on the 10-year investment term.

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What rights are included?

  Musical Composition Sound Recording
Copyrights included? No
Rights:
Mechanical
Public Performance
Sync
Sales
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

This heavily-streamed catalog features tracks from hip-hop star Joey Bada$$, including the track “Legendary” featuring hip-hop legend J. Cole, “500 Benz”, “Love Is a Feeling,” “No 99,” and more all produced by DJ Statik Selektah. 

Joey Bada$$ is a frequent collaborator with hip-hop legends such as Black Thought from The Roots, Action Bronson and Mike Posner. He is also a fierce advocate of the value of remaining an independent artist.  

Not surprisingly, streaming is the leading source of earnings with 53% of last year’s income. International earnings are the second-leading source with 33% of last year’s revenue and are stable with no year-over-year change. 

Also included in the top five earnings songs in the last year is a track titled “Commercial Statik Selektah Play Ball” written for the Major League Baseball series Play Ball. Earnings from this work rely on its continued placement in the program and the series continues to air. Last year it accounted for 9% of total revenue for the catalog. 

An interesting feature of this offering is 50% of its earnings in the last year are spread across 10 separate works. This offers built-in diversification and ensures future earnings are not tied to the success of a single work.

Key Drivers

Dollar Age. This collection of songs has a Dollar Age of 4.47. In this case, specifically, the Dollar Age demonstrates a diverse income mix between new(er) releases and more mature works. 

Although many of the top-earning songs in the last year are relatively new, the catalog contains numerous older releases that help balance the volatility with more consistent income.  A catalog containing mature works with consistency is something worth noting as an investor. This can help sustain a catalog's earnings moving forward.

Hip-Hop/Streaming. This catalog is a perfect example of two trends: hip-hop and streaming's growth worldwide. According to BuzzAngle's 2018 Year-End Report, hip-hop is the most popular genre of music in the U.S. The driver for the increase is streaming. Hip-hop/rap tracks accounted for more than a quarter of all on-demand plays on music streaming services in the US in 2018. Streaming accounts for 53% of this catalog’s earnings over the last 12 months.

Diversity in Song Income Mix. Revenues are widely distributed — the single highest-earning song only accounts for 7% of historic income. This means the catalog’s earnings are not tied to the success of a single track and provides built-in diversification.

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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