Classic Country Music Including "Don’t Let Me Cross Over"

$27,000

closing price

Auction Closed

Top Bid: Marc O

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: $12,000
Bidding Increment: $500
Closing Price: $27,000
End Date: Aug 05, 2016, 3:00 PM MDT
Royalty Type: Public Performance, Mechanical, Synch
Past 12 Month's Royalties $4,346
Buyer Fee: $500 or $49/year*

*BMI's fee to create a new payee account is $500. Royalty Exchange will happily administer these royalties so you don't have to create an account. That service costs $49 per year. There is no assignment fee for BMG.

Description

This auction is for the seller's interest in the songwriter's and publisher's shares of public performance, mechanical, and synch royalties for a catalog of songs written by Helen Moyers (professionally known as Penny Jay) currently payable by BMI and BMG. This catalog is highlighted by “Don't Let Me Cross Over,” “Widow Maker,” and “Set Him Free.”

Penny Jay's evergreen country song “Don't Let Me Cross Over” was originally recorded in 1962 by Carl Butler and Pearl. It continues to consistently earn royalties year after year. It has been covered multiple times by country musicians. This is important because every time the song is covered, you will earn a royalty. Considering it is an evergreen song that has been popular for over 50 years, it is realistic to assume it will maintain its popularity in the future. Evergreen is an adjective that describes something that is continually fresh or self-renewing. In the music industry, it is used metaphorically to describe a song with long-lasting popularity that has withstood the test of time.

BMI and BMG will distribute the royalties to the winner of this auction on a quarterly basis. The winner of the auction will receive the first royalty check in Q3 (September 2016). This asset has generated $4,346.03 in the most recent 4 quarters of statements, and more detailed financial information can be found in the “Financials” tab below.

Finally, Penny Jay has a place in country music history and the songs are considered heritage, which is why they continue to earn consistent royalties. Penny Jay's songs have been performed and covered by some of country music's biggest stars, including Dolly Parton.

What Is Being Sold?

100% of the seller’s interest in the songwriter’s and publisher’s shares of public performance, mechanical, and synch royalties for a catalog of songs written by Helen Moyers (professionally known as Penny Jay) currently payable by BMI and BMG.

IMPORTANT NOTE: The vast majority of royalty payments for this catalog are attributable to the song “Don’t Let Me Cross Over.” Because the song was published in 1962, U.S. copyright law states that the copyright would have expired in 1990 unless it was renewed by the publisher. If renewed, the copyright would have been extended through 2057. The current publisher, BMG, is unable to confirm or deny that the copyright was renewed. While royalty payments for the song have continued since 1990, there can be no guarantee that they will continue in the future.

How Does this Asset Make Money?

Every time songs in this catalog are covered by another artist, you earn royalties. Every time the song is played on Spotify, Pandora, Rhapsody, YouTube, SiriusXM, or iTunes Radio, you earn royalties. Also, every time a copy of this song is downloaded, sold, or re-recorded, you earn royalties. BMI and BMG will distribute the royalties to the winner of this auction on a quarterly basis. The next BMI and BMG payments are scheduled for September 2016.

What Is Interesting About this Asset?

“Don’t Let Me Cross Over” has become a country music standard and was made famous by the duo Carl Butler and Pearl, who originally sang the song in 1962. Within four weeks of its release, the song reached #1 on the Billboard Hot Country Singles chart. The song spent a total of 11 weeks (non-consecutive) at #1. For 51 years, “Don’t Let Me Cross Over” held the record for longest-running #1 song for a performer’s debut single on the Hot Country Singles chart. The record stood until 2013, when Florida Georgia Line’s hit “Cruise” was released.

In the decades since its debut, “Don’t Let Me Cross Over” has been covered by numerous artists. Jerry Lee Lewis and Linda Gail performed a cover of the song that peaked at #9 on the Hot Country Singles chart. The Jim Reeves-Deborah Allen duet cover of the song peaked at #10 on the same chart. Larry Cunningham performed a cover that peaked at #7 on the Irish charts. In 1996, Dolly Parton, who’d worked with the Butlers early in her career, included a recording of “Don’t Let Me Cross Over” (with harmony vocals by Raul Malo) on Treasures, an album of covers of some of her favorite songs. Remember, every time a song in this catalog for auction is covered by another artist, you earn royalties.

The winner is entitled to all future royalties generated by “Don’t Let Me Cross Over” (and all other songs in the catalog) from public performance, mechanical, and synch sources.

The other hits in this catalog include “Widow Maker,” which was first performed by Jimmy Martin, and “Set Him Free,” which was first performed by Skeeter Davis. This catalog has withstood the test of time, making it an evergreen asset that continues to generate consistent royalties.

What Rights Are Included?

About the Royalty Distributors

BMI is the largest music rights organization in the U.S., representing more than 10.5 million musical works created and owned by more than 700,000 songwriters, composers and music publishers.

BMG is a new kind of music company with a mission to help artists and songwriters make the very most of their songs and recordings in the digital age. They are committed to making BMG the best international music company – both for songwriters, artists and those who want to use their music.

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