Worth of the Song See You Again
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8x Platinum, No. 1 Hit "See You Again" by Wiz Khalifa
Collect royalties from the multi-Platinum, No. 1 hit tribute song "See You Again" by Wiz Khalifa featuring Charlie Puth.
Historic royalty income is no indication of future royalty income. Future royalty income is dependent upon future sales and licensing revenue generated by the sound recordings or compositions associated with this listing.
| Starting Price: | $30,000 |
| Bidding Increment: | $1,000 |
| Closing Price: | $102,000 |
| End Date: | Aug 07, 2017, 3:07 PM MDT |
| Investment Term: | Life of author + 70 years |
| Last 12 Months' Royalties: | $11,372 |
| Royalty Type: | Sound Recording Performance |
| First Payment: | April 2018 |
| Buyer Fees: | $99/year Royalty Exchange Admin Fee |
*Royalty Exchange will collect the winning bidder's portion of the royalties and make payments on a yearly basis. The $99 yearly administration fee will be deducted from each yearly payment.
Description
This is the chance to collect sound recording royalties from a multi-platinum, Grammy-nominated, No. 1 hit song--Wiz Khalifa's "See You Again" featuring Charlie Puth. In the last 12 months, this recording generated $11,732 in performance royalties.
Up for auction is 100% of the seller's interest in domestic sound recording performance royalties, and 30% of the international royalties. The seller performed background vocals on the recording, and receives non-featured performer digital performance royalties. AFM & SAG-AFTRA Intellectual Property Rights Distribution Fund, a non-profit organization that distributes royalties to session musicians and background vocalists, pays these royalties annually.
Released in 2015, "See You Again" was commissioned for the 2015 film Furious 7 as a tribute to the late actor, Paul Walker. The song quickly became a hit, spending 12 weeks at No. 1 on the Billboard Hot 100. It broke records, including the most-streamed track in a single day on Spotify in the United States, the most streams in a single week worldwide, and in the United Kingdom in a single week as well.
Most recently, on July 10, 2017, "See You Again" became the most-viewed YouTube video of all time with 2.8 billion views. While it was surpassed later by Luis Fonsi's 'Despacito,' the popularity of the song is undeniable.
"See You Again" was the best-selling song of 2015 worldwide, with combined sales and track-equivalent streams of 20.9 million units according to IFPI, the International Federation of the Phonographic Industry. The song has received numerous awards and accolades including a Critic's Choice Award, a Hollywood Music in Media Awards, a Hollywood Film award and more. Nominations include three Grammy nominations, including Song of the Year and Best Pop Duo/Group Performance, and a Golden Globe nomination for Best Original Song.
Key Drivers
1) International Royalties. "See You Again" is a worldwide hit and international royalties have yet to pay out. The song reached Platinum status in over 15 countries, appeared on weekly charts in over 30 countries and year-end charts in more than 15. The recording topped the UK Singles Chart for two consecutive weeks, and reached No. 1 in several other countries including Australia, Austria, Canada, Germany, Ireland, New Zealand and Switzerland. If you win, you will collect 30% of the seller's interest in international royalties, so you will benefit from the popularity of this global hit.
2) Relevancy. The song continues to make history and headlines two years after its release, just recently breaking the record for most viewed YouTube video of all time. The song may have lost the title shortly after, but a YouTube representative told Forbes the video continues to receive millions of plays every day, despite being uploaded more than two years ago. While YouTube royalties don't contribute to earnings from this asset, this achievement illustrates the popularity and reach of this recording.
What is being sold?
100% of Seller's interest in the non-featured performer's share of domestic royalties, and 30% of Seller's interest in the non-featured performer's share of international royalties, attributable to the sound recording "See You Again" by Wiz Khalifa.
How does this asset make money?
The vast majority of royalties come from digital streaming on platforms like Spotify, Pandora, Google Play, and Sirius XM Radio. Each year, AFM & SAG-AFTRA calculates "See You Again's" share of the total royalties collected for the non-featured performer's fund and distributes royalties accordingly. AFM & SAG-AFTRA make payments once a year at the end of April. Royalty Exchange will administer the payments to the winner of this auction and the first distribution you will receive is April 2018.
For more information on the AFM & SAG-AFTRA Fund, click here. For a detailed breakdown of how they calculate and pay royalties, click here.
What rights are included?
| Musical Composition | Sound Recording | |||||||
|---|---|---|---|---|---|---|---|---|
| Copyrights included? | — | No | ||||||
| Rights: |
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| ||||||
| Sources: | Internet Streaming, AM/FM & Satellite Radio, Digital Downloads, CD Sales, TV/Film/Commercial Placements & Performances, etc. | Internet Streaming, Satellite Radio, etc. | ||||||
| Distributors: | — | AFM & SAG-AFTRA |
About the Royalty Distributor
The AFM & SAG-AFTRA Intellectual Property Rights Distribution Fund is a non-profit organization that distributes royalties to session musicians and background vocalists. In 2016, they distributed around $60 million in royalties.
Public performance royalties are payments made by radio stations, hotels, restaurants, night clubs, etc. to the composition copyright holder(s) for each public performance of the copyrighted work. In the U.S., public performance royalties are typically paid to performing rights organizations (e.g., ASCAP, BMI) who then distribute the royalties to the copyright holder(s).
public performance
Mechanical royalties are royalties deriving from per-unit payments made by recording companies or digital download providers to the composition copyright holder(s) for every purchase of a sound recording that reproduces the copyrighted composition.
mechanical royalties
Non-interactive digital performance royalties are payments made by non-interactive music services (i.e. those that mimic the experience of a radio broadcast) of a statutorily-set amount (on either a per-play or annual basis—depending on the type of service) to SoundExchange for the benefit of the sound recording copyright holder and the performing artists for the right to perform the copyrighted sound recording via non-interactive, digital means.
non-interactive digital performance royalties
The royalties owed to the creator(s) of a musical composition which are paid in return for the right to reproduce, distribute, or perform the copyrighted work.
songwriter's share
A musical composition is one of the two copyrightable parts of a recorded song. It consists of the song's music, including any accompanying words, (i.e. the portion of a song that is capable of being fully expressed as sheet music) and is separate from any particular recording of the song or its performance by any particular artist.
musical compositions
A sound recording is one of the two copyrightable portions of a recorded song. It results from the fixation of a series of musical, spoken, or other sounds in a tangible (at least momentarily permanent) medium.
sound recordings
The portion of royalties owed to the owner of a sound recording. The owner may the performing artist, the producer, or another party (such as a record label) who contractually acquired the ownership of the copyrighted work (e.g., through a recording agreement), owns it by virtue of an employer-employee relationship with the creator(s) of the work, or specially commissioned the work.
rights owner's share
The portion of royalties owed to the performers of a sound recording in return for the right to perform the copyrighted work via non-interactive, digital services (e.g., Pandora, Spotify).
artist's share
The portion of royalties owed to the music publisher which are paid in return for the right to reproduce, distribute, or perform a copyrighted musical composition, arising from a contractual obligation (i.e. a publishing agreement) or employer-employee relationship with the creator of composition (i.e. the songwriter(s)).
publisher's share
If an asset requires splitting up a catalog by works or percentages, Royalty Exchange may need to provide royalty accounting services to the buyer, seller, or both. This is because the royalty distributor may not be able to split royalties as intended by the asset transfer. Royalty Exchange's involvement helps to ensure accurate royalty payments. It also helps assure buyers and sellers that they are not missing out on potential earnings.
The accounting process often involves manual spreadsheet work and coordinating with royalty distributors. Royalty Exchange's goal is for the accounting service to be temporary. We plan to work with distributors to find solutions that will allow us to revert accounting and payment obligations back to the distributor, removing ourselves from the process. In the meantime, we've instituted the 5% fee to help offset costs in the manual accounting.
Please see the sample accounting agreement document for reference.
Why does Royalty Exchange need to account?
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Source: https://auctions.royaltyexchange.com/auctions/8x-platinum-no-1-hit-see-you-again-by-wiz-khalifa/
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