Fans will soon be able to buy stock in Eminem songs
Royalty revenue from the rapper’s catalog is coming to the stock market.
Part of Eminem's catalog is going to be launched as an IPO and publicly traded. The company Royalty Flow has purchased a percentage of royalty revenue from the rapper's catalog, consisting of material from 1999 to 2013, and intends to list on the stock exchange. The company purchased its shares in the Detroit native's catalog from Jeff and Mark Bass, who initially signed Eminem, and their manager Joel Martin.
In a press release on Monday, Royalty Flow said that the stock will go public when they company has raised between $11 million and $15 million. Once the stock is made public, individuals can buy, sell, and trade. "Royalty Flow intends to acquire and hold royalties from music catalogs of the world’s biggest music artists," the company wrote in a statement.
A rep for Eminem said that the rapper is not associated with the venture. "Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company," the rep told 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.”