A background singer is auctioning off a portion of his rights to future royalties from Wiz Khalifa and Charlie Puth's 2015 Number One hit, "See You Again." As of Thursday afternoon, the stake in "See You Again" was priced at $31,000 after two bids. The sale ends August 7th at 3 p.m. MDT.
Per the listing for "See You Again," the seller has made $11,372 from the song over the past twelve months. The winning buyer will receive 100 percent of the seller's interest in domestic sound recording performance royalties, as well as 30 percent of international royalties. The new owner will incur the majority of "See You Again" royalties from satellite radio and digital streaming.
The nonprofit royalty distribution organization AFM & SAG-AFTRA will pay out the royalties once a year at the end of April, while Royalty Exchange will take a $99 per year admin fee.The sale is taking place via Royalty Exchange, a website that links musicians with investors interested in acquiring royalty income. The offerings on Royalty Exchange span from background music for film and TV to portions of label catalogues to songs performed by artists like Jay Z, Dr. Dre, Chris Brown, Earth, Wind and Fire and more.
"See You Again" was commissioned for the Furious 7 soundtrack as a tribute to franchise star Paul Walker, who died in a car accident during filming. The track became a monster hit, spending 12 non-consecutive weeks at Number One on the Billboard Hot 100 and earning three Grammy nominations.
"See You Again" went on to become the best-selling song of 2015 worldwide, with sales and track-equivalent streams reaching 20.9 million units. The song also dethroned Psy's "Gangnam Style" as the most viewed video on YouTube and currently boasts approximately 2.9 billion views (it's currently in a very close race with Luis Fonsi's "Despacito" to be the first video to reach 3 billion views.)
- Rolling Stone
No comments:
Post a Comment