Royalty Flow, a new company formed by Royalty Exchange, has bought at least a 15% slice of royalty revenue from Eminem‘s catalog, which will soon be launched as an IPO and get traded publicly. The shares were purchased from Jeff and Mark Bass, who signed Eminem back in the day, as well as their manager Joel Martin. In a press release, Royalty Flow says that the stocks will go public once the company has raised anywhere between $11 million USD and $50 million US via Regulation A+ crowdfunding effort. Once they are public, individuals can buy, sell and trade the stocks.
However, a rep for Eminem reveals that the Detroit rapper is not associated with the venture in any way. “Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company,” the rep tells Variety. “The decision to offer the royalty stream for sale or otherwise was made independently by a third party who retains royalties for an early portion of his catalog and Eminem was not consulted.”
“If you’re a fan and wanna bet on that artist, you’ve got some skin in the game,” Joel Martin, a partner of the Bass brothers, tells Bloomberg. “It takes the average investor and puts them in a position they wouldn’t be in before.”
Learn more about buying Eminem stocks via Bloomberg.