Aerosmith Songwriters Selling Rights

By: Nathan Towne - Sep 12, 2008   Updated: Apr 6 2011
References: SongVest & blogs.wsj
Collectors and music fans, take note: songwriters can now sell the rights to their songs through SongVest, a new online music auction provider.

SongVest is auctioning some pretty big names in October, including Aerosmith, Carrie Underwood and Cher and takes a 25% to 40% commission on each sale. If SongVest turns out a success, expect more similar businesses to begin cropping up.

This is a brand new way to think about the music industry.

Implications - The music industry has changed dramatically within the last decade and its evolution shows no sign of slowing. that fact that auctioning off the rights to music could be such a lucrative alludes to the fact that although many are hard-pressed for cash, there are still consumers that crave rare luxury goods at any cost.