Music creators can now see offers to sell their catalog in the Know Your Worth app. This new benefit accompanies the analytics and royalty advance offers the tool provides.
Whether the rights-holder wants to get out of their older works or simply wants the largest offer for their catalog, now they have the option.
How Does it Work?
Getting all the features from Know Your Worth is free, and only takes about 3 minutes to set up.
Music creators securely connect their royalty paying account to the app using their online login. Then, the app combs through all the royalty earning data and sorts it into a smart, intuitive interface. Just like the Mint app from Intuit.
If the catalog meets certain criteria, it will qualify for offers from our investor community.
On the other side of the app, investors place standing offers to advance, or buy catalogs. These private individuals compete to have the highest bid in for particular catalogs.
When a catalog qualifies, the app with automatically match it with the highest offer at that moment. The users will see offers for both a Term Advance and a Catalog Sale.
What's your catalog worth?
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Why we added this feature
We received some feedback from musicians that used the Know Your Worth app and this release answers two of those requests.
Larger Offers - Many users were looking to get that largest dollar amount for their older songs and were not concerned about getting the royalties back. They had a certain number they needed to get for a new investment and the advance wasn't enough to get there.
By allowing investors to place orders for a catalog sale, prices are much higher. In some cases, The catalog sale offer is almost double the advance offer.
More Insight on What a Good Deal Is - We strive to make our platform as transparent as possible. That's why we make our analytics and valuation tool free for anyone to use.
By adding the Catalog Sale option, musicians will have a good idea of what a good deal looks like for their music. And, they can take that offer externally to other negotiations as a validated measure of their catalog's value.
New Additions to Know Your Worth
We're always adding new features to Know Your Worth that helps music creators know more about their royalties. We're expecting to launch new integrations with the tool soon, and new tools for royalty analysis as well.
If you have any requests for features, we'd love to hear from you.