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SOURCE Royalty Exchange
Market for Music Royalties as Alternative Investment Continues to Grow
RALEIGH, N.C., Jan. 21, 2014 /PRNewswire/ -- Royalty Exchange, the world's only online auction marketplace for music and entertainment royalties, today announced the sale of song royalties from platinum-selling rock superstars 3 Doors Down. The auction, opening Jan. 28 and closing on Tue., Feb. 11, will feature public performance, sync, mechanical and other royalties paid to the producer of specially selected songs, including the Grammy-nominated smash hit, "Kryptonite."
Since forming in 1995, 3 Doors Down has sold more than 16 million albums worldwide and earned three Grammy nominations. The Mississippi quintet's debut album, The Better Life, featured the hit singles "Loser," "Duck and Run," and "Kryptonite," which climbed to No. 3 on Billboard and earned a 2001 Grammy nod for Best Rock Song. The Better Life has since been certified 6x platinum. The band's second album, 2002's Away from the Sun, went on to be certified 4x platinum, earning frontman Brad Arnold five BMI Pop Awards for songwriting, including Songwriter of the Year. 3 Doors Down has released five studio albums, including Seventeen Days (2005) and 3 Doors Down (2008), both of which debuted at No. 1.
The 3 Doors Down auction marks the most eagerly anticipated sale to date for Royalty Exchange and is the company's highest music royalty offering since launching in 2011. Current and recent high-profile auctions featured on the site include Willow Smith's "Whip My Hair" music royalty auction which ends Jan. 21, and the recent successful sale of "Do the Bartman," from the animated series The Simpsons, co-written by Michael Jackson, which helped push total royalty sales for 2013 over the $1 million mark. In addition, Royalty Exchange co-founder Wilson Owens, 28, was recently named by Forbes as one of "Music's Brightest Young Stars" in its annual music industry 30 Under 30 list.
"Featuring 3 Doors Down, in addition to all the exciting momentum we are experiencing, is a terrific example of the growing demand from both buyers and sellers of music royalties," said Sean Peace, Royalty Exchange CEO. "Our sales continue to grow in terms of artist profiles, auction value and bidder registrations, and we are developing innovative investment options that will expand the marketplace even further."
About Royalty Exchange
Founded in 2011, Royalty Exchange is a secure, transparent and efficient online marketplace for buyers and sellers of royalty revenue streams in music, entertainment, publishing, patents, and trademarks. This alternative investment platform was created to open up access to these highly lucrative assets and offer liquidity to the market. Royalty Exchange is owned and operated by veteran royalty rights experts and is advised by global leaders in the legal, financial and technology industries.
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