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The New York Rock Exchange is the first legal and fan friendly way for artists to sell shares of their songs. These SongShares are an innovative way for artists to engage with their fans and a new way for fans to own music.
Today marks the initial public offering for "The Precipice" by Seattle-based indie rock band The Classic Crime. SongShare owners get a slew of exclusive perks including a foil embossed "Rock Certificate", a t-shirt, free downloads, an exclusive digital booklet created by the band and early access to new music. They even get a one-time royalty check from the band. The starting price is $35, but changes based on supply and demand, sort of like a stock market. Complete details can be found at www.tcc.newyorkrockexchange.com.
"We chose 'The Precipice' because we felt it was the right message to send to an exclusive group of fans," says Classic Crime frontman, Matt MacDonald. "We like how the song is intimate, heartfelt and magnetic, just like the relationship we are beginning with them."
"SongShares are for fans--not financial analysts," says New York Rock Exchange Chairman Jeff Annison. "We've created an engaging way for artists to connect with their fans and a new definition for what it means to 'own a song.' We are thrilled to have The Classic Crime as one of our launch partners and are actively signing additional emerging, mainstream and legendary artists for which to issue shares."
In addition to exclusive fan perks, shareholders of "The Precipice" can elect to have their one-time royalty check donated to World Wide Village, a charity to help Haitians families by providing funds, resources and expertise in order to transform lives and empower communities.
About The New York Rock Exchange
The New York Rock Exchange sells shares of songs that are built for fans (NOT financial analysts). We call them SongShares. They don't generate financial returns, but they do unlock shareholder-only rewards like free downloads, exclusive merch, and early access to music and tickets. You even get a royalty check from the artist. SongShares are the ultimate way to own your music. For more information, go to www.newyorkrockexchange.com
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