04/23/2013 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Canada – An online auction house has made available for purchase future royalties of well-known recording artists. As reported by Good Morning America, individuals can make purchases of future earnings for songs released by hit makers like Usher, Boys II Men, and TLC at the Royalty Exchange.
The minimum bid on artist collections on the Exchange is $60,000.
Creator and president Sean Peace is quoted as stating to ABC News of the revenue potential, “Most of our streams… have been pretty consistent, offering returns of between 5 percent and 10 percent. Every one’s a little different.”
Eighteen auctions have reportedly been held by the Exchange so far since its creation two years ago.
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