With his new idea, Jay-Z could allow fans to buy “chunks” of rights to songs.
The music business generates a lot of moneyand since the advent of streaming, money is much more accessible than 40 years ago, when the big labels shared the cake leaving crumbs for the artists. Now it’s much easier to start earning some money through platforms, even if it’s a long road before you can lead the life of an artist. But Jay-Z, Roc Nation, and a South Korean company are preparing to introduce a new revolution in the world of money linked to music, by offering the possibility to fans to earn money with the sounds of their favorite artists.
Buy “rights scraps”
Jay-Z and Roc Nation have therefore joined forces with the South Korean company Musicow to offer American fans the possibility of investing money in the “royalties” of a song. Basically, fans will be able to buy a small share of the royalties from a song, and, later, this little piece of royalties could make them money. There is also the possibility of exchanging the rights to music with other people, and music creators can therefore sell parts of their songs to fans. The vice president of Roc Nation, Jay Brown, was quite enthusiastic when announcing the partnership with Musicow.
-The music industry is evolving into a shared ecosystem where fans and artists can make money together. Our mission is to support this, and to promote the emancipation of artists by giving them the tools and services they need to build a better ecosystem music, but also giving everyone access to the financial opportunities offered by the world of music.
It is difficult to measure the full extent of the change driven by Jay-Z and Roc Nation, but we imagine that the initiative should quickly expand, and that soon, it will even be a new way of building loyalty. a fanbase for artists. In any case, it risks changing a lot of things in the years to come, particularly regarding the place of labels in this whole environment.
