Soundbank announced that it will invest in both the songs of its users and musicians with the motto “Partner with your favourite song and artist”. Soundbank is a platform designed for musicians and those who want to earn passive income by investing in their works. The startup, which opened its access to early registrations, offers various opportunities to its users. It allows its users to partner with their favourite songs and musicians. Currently, this startup has announced its cooperation with many famous names. The platform became available in the first days of August. It is stated that it has currently reached 7,500 users. After the investment is made, the investor’s income increases depending on the listening of the songs.
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Investing in Music with Soundbank is Very Advantageous
The platform paves the way for musicians to share their income with listeners. It provides access to the artists included in the system under the name Soundbank Partner. The number of artists that can be invested in the Soundbank platform is more than 100. There is currently no public version of the platform. Early access registration is collected via the web page. You can join the early access of the platform by clicking the link. Soundbank states that investing in music brings some advantages.
Investing in music brings many advantages such as high returns, a constantly growing market and regular passive income. As a result of monthly payments, investors can earn income. Even when old songs are rediscovered, income increases. Soundbank earned $25 billion from companies’ listening revenue in 2022. This figure will increase to 90 billion by 2030. Estimates are made with artificial intelligence for the valuation of songs on the platform. Immediately afterwards, the final price is determined. Valuation are determined according to the subjects as follows.
- The number of the playlist with the song,
- The popularity of the artist,
- Historical earnings data,
- Listener demographics
We can give an example of how the platform, which we can call the music exchange, works as follows: An investor owns a 3% stake in a song. The investor can earn 3% income from here. Not only new songs can be shared on the platform. It is also possible to become a partner in old songs. Investors can sell their song shares at any price they wish.