A startup company called JKBX, pronounced "jukebox," is allowing consumers to buy shares in dozens of songs from big artists, including Beyoncé, Stevie Wonder, Taylor Swift, U2, and Adele.
JXBX opened its new marketplace last week after the Securities and Exchange Commission signed off on its first offering. Some of the songs include the Beyoncé hit "Halo," "Rumour Has It" by Adele, and Taylor Swift's "Welcome to New York."
JXBX's Chief Executive Officer Scott Cohen called the company "both a financial product and a fan product." Investors will be paid a quarterly distribution of fees paid to the rights holder, which will come from album sales, satellite radio royalties, or fees from use in movies and TV shows.
Investors are currently seeing yields between 3% and 4%, which is below yields from money-market funds at 5%. JKBX doesn't currently allow trading yet, as you can only buy shares but not sell them. There are plans to offer trading later this year.
Source: wsj.com
