Royalty Exchange releaases valuation app for songwriters
Music firm Royalty Exchange has launched an app for songwriters, pitching it as "the Zillow for royalties" (Zillow is the website whose features start with providing an estimate for the value of your house, to help you gauge whether to sell or rent it out).
The company explained:
[it's] a free resource that provides songwriters an instant valuation and analysis of their catalogue. [...] We call it the Know Your Worth app… The app analyses songwriters' public performance statements from their PRO, and automatically produces a personalised report with details that until now were unavailable from a single source.
Reports include a dollar-range estimate for the artists' catalogue’s value; figures for the lifetime and last year’s earnings for that catalogue; a list of its top-earning songs; and its sources of revenue by format, from radio and streaming to TV and films. It even calculates public-performance royalties from streaming services using a "Latte Index" – that's to say “the number of streams on each service needed to buy a Starbucks Latte”.