January 24, 2025
Jay-Z partnered with a South Korean platform to permit followers to put money into music royalties.
Jay-Z’s Roc Nation has teamed up with a South Korean music fintech platform, permitting followers the alternative to earn cash from the songs they stream.
Roc Nation’s new partnership with South Korean fintech firm Musicow introduces what it’s calling the primary Music Fairness Service Supplier within the U.S., Billboard reviews. The partnership offers customers the chance to put money into music royalties, following Musicow’s mannequin of permitting music rights homeowners to purchase, commerce, or promote shares of royalty income to potential buyers.
It’s a win-win for creators and music superfans, as music makers will be capable to break down royalty income into fractions and promote shares of their tracks, whereas customers can earn income from their favourite artists by investing in music royalties as a substitute asset class.
“The music business is evolving right into a shared ecosystem the place followers and creators can earn collectively,” Roc Nation Vice Chairman Jay Brown stated.
“Our mission shouldn’t be solely to assist and empower artists by offering the instruments and companies they should construct a greater music ecosystem but additionally to provide everybody entry to the monetary alternatives the music business provides.”
Based in 2016, Musicow initially launched as a platform for buyers to purchase and promote stakes in Okay-pop tune copyrights by way of public auctions or on-line marketplaces. Now, with its partnership with Roc Nation, U.S. music followers may have the prospect to do the identical.
When the brand new platform launches, anticipated within the first quarter of 2025, early customers will get a head begin with a free $10 of their Musicow pockets, permitting them to start incomes royalties earlier than the competitors.
Musicow CEO Woo Rhee cites the Roc Nation partnership as an “unbelievable alternative to drive innovation and redefine the way forward for our business.”
“I’m assured that collectively, we’ve got the imaginative and prescient, experience, and enthusiasm to create transformative progress and unlock limitless potential,” Rhee added.
RELATED CONTENT: 5 Musical Geniuses Whose Work Entered The Classroom