Jeff Tweel is chief operating officer of TweelX.(Photo: Larry McCormack, The Tennessean)
Photo taken from: http://www.usatoday.com/story/money/2013/01/04/buy-shares-of-songs/1810501/
This new tool is actually a website called TweelX. Essentially, they provide artists with a community / catalog for them to submit their music, and in exchange, the artists are agreeing to a "Song By Song" publishing deal in which they must give control over their exclusive publishing rights for each specific song.
Not sure what that means? No problem, here it is in English. Basically, You upload your songs to the TweelX catalog, they break it up into shares or percentages, and after that, anyone who thinks your music is going somewhere, perhaps some fans, family, a label rep, etc. Can buy a stake in your song. Which means that they don't just get an album or a download link or something for their support, it means that if your songs makes it somewhere, maybe to the radio, or television or makes it somewhere that generates income, these investors get a share of that income too, and any other revenue generated by the song. So, when you make money off of a song, the investors will make money too, based on their percentage of ownership. A share of a song will sell for around $100 - $250 and 5 shares (25%) is available for public consumption. Of course TweelX gets a 25% share of the cake, and the artist is left with the remaining 50% (sometimes even more depending on how many shares the public snatches up)! The whole idea behind the model, says Jeff Tweel, is to raise close to $1000 per song, "about what it costs to make a really good sounding demo."
The good news surrounding this whole idea is that artists / songwriters will maintain all rights and ownership of their Master Recordings, and TweelX doesn't make you sign any exclusive agreements for the ownership to be handed over to them! So sign up and own your songs in peace!
Currently, there is approximately 150 songs on the catalog, with about 25 different artists. Although, this is a new company, they have had 1 investor so far, a fan paid $250 for a share in a song by the Justice Adams band.... hey, that's not too bad for an artist who might not be making anything!
Now that the company is filling up their catalog, it's time for them to find some shoppers, which is where Jeff comes in. Jeff has had over 20 years of experience in the music industry, so you know he's got friends in high places! Which is yet another benefit to the website, you're not just submitting your music to a random catalog for it to collect dust, your handing it over to people who may submit your music to the right hands. "Because of my connections in the business, we are providing them with exposure that they would never get on their own." says Jeff.
If you ask me I'd say this is an awesome tool for artists seeking more outlets for channeling their music. There's actually a lot of cool stuff going on with this website, including licensing options, plus it's so damn easy just to get your music on there, how could you not take advantage!?
If you want to read more about this, check out the article I came across on USA Today, or head on over to TweelX and see what they're all about!
USA Today: http://www.usatoday.com/story/money/2013/01/04/buy-shares-of-songs/1810501/
TweelX: https://www.tweelx.com/index.php
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What's the writer listening to? Slave to the Game - Emmure
Photo taken from: http://www.usatoday.com/story/money/2013/01/04/buy-shares-of-songs/1810501/
Have you ever dreamed about making money off your music? Or perhaps, you've been waiting for the right person to hear your tunes to give you that big break? Well, your wait may not be over, however, there's a new tool that has recently sprung up on the Internet, and it might be the step you need to take your music to the next level, and might even make you a few pretty pennies too!
This new tool is actually a website called TweelX. Essentially, they provide artists with a community / catalog for them to submit their music, and in exchange, the artists are agreeing to a "Song By Song" publishing deal in which they must give control over their exclusive publishing rights for each specific song.
Not sure what that means? No problem, here it is in English. Basically, You upload your songs to the TweelX catalog, they break it up into shares or percentages, and after that, anyone who thinks your music is going somewhere, perhaps some fans, family, a label rep, etc. Can buy a stake in your song. Which means that they don't just get an album or a download link or something for their support, it means that if your songs makes it somewhere, maybe to the radio, or television or makes it somewhere that generates income, these investors get a share of that income too, and any other revenue generated by the song. So, when you make money off of a song, the investors will make money too, based on their percentage of ownership. A share of a song will sell for around $100 - $250 and 5 shares (25%) is available for public consumption. Of course TweelX gets a 25% share of the cake, and the artist is left with the remaining 50% (sometimes even more depending on how many shares the public snatches up)! The whole idea behind the model, says Jeff Tweel, is to raise close to $1000 per song, "about what it costs to make a really good sounding demo."
The good news surrounding this whole idea is that artists / songwriters will maintain all rights and ownership of their Master Recordings, and TweelX doesn't make you sign any exclusive agreements for the ownership to be handed over to them! So sign up and own your songs in peace!
Currently, there is approximately 150 songs on the catalog, with about 25 different artists. Although, this is a new company, they have had 1 investor so far, a fan paid $250 for a share in a song by the Justice Adams band.... hey, that's not too bad for an artist who might not be making anything!
Now that the company is filling up their catalog, it's time for them to find some shoppers, which is where Jeff comes in. Jeff has had over 20 years of experience in the music industry, so you know he's got friends in high places! Which is yet another benefit to the website, you're not just submitting your music to a random catalog for it to collect dust, your handing it over to people who may submit your music to the right hands. "Because of my connections in the business, we are providing them with exposure that they would never get on their own." says Jeff.
If you ask me I'd say this is an awesome tool for artists seeking more outlets for channeling their music. There's actually a lot of cool stuff going on with this website, including licensing options, plus it's so damn easy just to get your music on there, how could you not take advantage!?
If you want to read more about this, check out the article I came across on USA Today, or head on over to TweelX and see what they're all about!
USA Today: http://www.usatoday.com/story/money/2013/01/04/buy-shares-of-songs/1810501/
TweelX: https://www.tweelx.com/index.php
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What's the writer listening to? Slave to the Game - Emmure
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