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.
Mar 17, 2017, 2:18 PM MDT
Life of author + 70 years
Last 12 Months' Royalties:
$500 BMI Payee Account Fee*
*BMIcharges 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 aBMIpayee account, there is no fee.
This is a rare opportunity to collect publishing royalties from music by legendary funk master George Clinton. Known as one of the foremost innovators of funk music, Clinton's career spans over half a century as a singer, songwriter, bandleader, and record producer. Clinton's impact doesn't stop there. His influence also crosses over into hip-hop through his collaborations with other artists, and his infectious beats have made him one of the most sampled artists of all time.
Up for auction is 100% of the seller's interest in the publisher's share of public performance royalties for a catalog of 59 songs by George Clinton. In the last 12 months, this asset generated $1,549 in royalties.
The catalog is highlighted by Clinton's collaborations with Tupac on “Can't C Me,” and Too $hort on “It's a Cold Day (The Funk Wit U Mix).” “Can't C Me” is from Tupac's last album released in his lifetime--All Eyez on Me. Many of the other songs in the catalog are from Clinton's “Family Series” albums. The Family Series consist of recordings from various bands that Clinton was associated with. Now you can earn money every time one of these 59 songs is played on the radio, streamed, used in a TV show that airs, or any other type of public performance.
What is being sold?
100% of the seller's interest in the publisher's share of public performance royalties attributable to the musical works in the seller's BMI catalog. See the “Documents” tab for a full track list.
How does this asset make money?
Every time “Can't C Me” or any song in this catalog, is played on the radio, iTunes, Pandora, Spotify, or any other type of public performance, you earn royalties. BMI makes payments quarterly and the first distribution the buyer will receive is June 2017.
What rights are included?
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.
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.
Public performance royalties are payments made by radio stations, hotels, restaurants, night clubs, etc. to the composition copyright holder(s) for each public performance of the copyrighted work. In the U.S., public performance royalties are typically paid to performing rights organizations (e.g., ASCAP, BMI) who then distribute the royalties to the copyright holder(s).
Mechanical royalties are royalties deriving from per-unit payments made by recording companies or digital download providers to the composition copyright holder(s) for every purchase of a sound recording that reproduces the copyrighted composition.
Non-interactive digital performance royalties are payments made by non-interactive music services (i.e. those that mimic the experience of a radio broadcast) of a statutorily-set amount (on either a per-play or annual basis—depending on the type of service) to SoundExchange for the benefit of the sound recording copyright holder and the performing artists for the right to perform the copyrighted sound recording via non-interactive, digital means.
non-interactive digital performance royalties
The royalties owed to the creator(s) of a musical composition which are paid in return for the right to reproduce, distribute, or perform the copyrighted work.
A musical composition is one of the two copyrightable parts of a recorded song. It consists of the song's music, including any accompanying words, (i.e. the portion of a song that is capable of being fully expressed as sheet music) and is separate from any particular recording of the song or its performance by any particular artist.
A sound recording is one of the two copyrightable portions of a recorded song. It results from the fixation of a series of musical, spoken, or other sounds in a tangible (at least momentarily permanent) medium.
The portion of royalties owed to the owner of a sound recording. The owner may the performing artist, the producer, or another party (such as a record label) who contractually acquired the ownership of the copyrighted work (e.g., through a recording agreement), owns it by virtue of an employer-employee relationship with the creator(s) of the work, or specially commissioned the work.
rights owner's share
The portion of royalties owed to the performers of a sound recording in return for the right to perform the copyrighted work via non-interactive, digital services (e.g., Pandora, Spotify).
The portion of royalties owed to the music publisher which are paid in return for the right to reproduce, distribute, or perform a copyrighted musical composition, arising from a contractual obligation (i.e. a publishing agreement) or employer-employee relationship with the creator of composition (i.e. the songwriter(s)).
If an asset requires splitting up a catalog by works or percentages, Royalty Exchange may need to provide royalty accounting services to the buyer, seller, or both. This is because the royalty distributor may not be able to split royalties as intended by the asset transfer. Royalty Exchange's involvement helps to ensure accurate royalty payments. It also helps assure buyers and sellers that they are not missing out on potential earnings.
The accounting process often involves manual spreadsheet work and coordinating with royalty distributors. Royalty Exchange's goal is for the accounting service to be temporary. We plan to work with distributors to find solutions that will allow us to revert accounting and payment obligations back to the distributor, removing ourselves from the process. In the meantime, we've instituted the 5% fee to help offset costs in the manual accounting.
Please see the sample accounting agreement in the “Documents” tab for reference.
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