Another day, another dollar. On that note, Jay-Z’s Roc Nation just teamed up with South Korean fintech company Musicow in a groundbreaking partnership aimed at revolutionizing how music royalties are traded and invested.
This innovative collaboration is being called the “first Music Equity Service Provider in the United States,” offering fans the chance to invest in the royalties of their favorite songs. The new platform allows rights holders to sell shares of their music, providing creators with the option to sell track fractions while allowing investors to earn income from the music they love.
Get this, Roc Nation’s vice chairman, Jay Brown, shared his expected excitement about the partnership, saying, “The music industry is evolving into a shared ecosystem where fans and creators can earn together. Our mission is not only to support and empower artists by providing the tools and services they need to build a better music ecosystem but also to give everyone access to the financial opportunities the music industry offers.”
Additionally, Musicow CEO Woo Rhee echoed this sentiment, calling the collaboration “an incredible opportunity to drive innovation and redefine the future of our industry.” He added, “I’m confident that together, we have the vision, expertise, and enthusiasm to create transformative progress and unlock limitless potential.” Although the platform isn’t live yet, it is expected to launch in March, offering a new way for fans and creators alike to benefit from the music industry.
What’s more it is clear that Roc Nation continues to expand its influence as both a label and management powerhouse. Fat Joe’s 2017 decision to join Roc Nation’s management division was a pivotal move, with the rapper recalling how Desiree Perez, Roc Nation’s COO, doubled the value of his deal before he even signed. Reflecting on the negotiation, Fat Joe said, “She called me into the office… and said, ‘What if I told you I’d call that guy right now and they’ll give you $3.5 million for that same deal you negotiated for $1 million?’” The deal was done, and Fat Joe’s decision to join Roc Nation was solidified, marking the beginning of a fruitful partnership.
