Royalty Exchange, the world’s only online auction marketplace for music and intellectual property royalties, announced today its partnership with the Fender Music Foundation to provide songwriters, musicians, and publishers a new way to give back to the music community.
The Fender Music Foundation is a music charity striving to strengthen the state of music education. Donations to the foundation are put towards providing instruments to schools, after-school programs, and music therapy programs. The foundation’s expenses are covered by both revenue contributions from its partners, and sales revenue from celebrity memorabilia.
Through this partnership, Royalty Exchange will provide a new platform for these revenue-based donations. This will allow songwriters, publishers, and performers to donate a portion of their royalty rights to the Fender Music Foundation. These rights will then be auctioned through Royalty Exchange in order to quickly monetize the assets for maximum value. In addition to the profit received from the auction itself, Royalty Exchange will donate both a percentage of the standard seller auction fee and ongoing administration fee to the foundation.
“We are thoroughly excited to provide our services for such a great cause,” said CEO and founder Sean Peace. “Not only can we help provide the music community with a new way to give back through the Fender Music Foundation, but we can further support the foundation in its sponsorship of the next generation of musicians.”
“The Fender Music Foundation is fortunate to be partnering with Royalty Exchange,” said Executive Director Lynn Robison. “Our newly formed partnership will help foster awareness of additional opportunities artists have to manage assets, realize tax benefits and engage with the Fender Music Foundation to expand its reach.”
This new partnership offers another way for songwriters, performers, and publishers to give back to the music community. Rather than signing all sorts of memorabilia, artists can now offer a portion of a continuous stream of revenue, bringing the Fender Music Foundation greater resources to carry out their mission.