Today, we are proud to introduce our new Pay It Forward program, which gives rightsholders selling royalties through the Royalty Exchange marketplace the opportunity to donate a portion of their proceeds to select charities.
With Pay it Forward, any songwriter, performer, or publisher conducting royalty auctions on Royalty Exchange can opt to donate 1%, 5%, or 10% of their sales profits to any of the organizations participating in the program. Royalty Exchange will facilitate the transfer of funds to the selected charities, and will match 100% of each contribution up to 1% of the corresponding auction total.
As part of the Pay It Forward launch, we are pleased to name MusiCares and Music For Relief as our initial partners participating in the program. Update: On Jan. 23, the ASCAP Foundation joined the program as well.
A charity of The Recording Academy® (the same organization behind the GRAMMY Awards®), MusiCares is dedicated to providing emergency financial assistance to the music community in times of medical, financial, or personal crisis.
Founded by the band Linkin Park, Music for Relief was created to respond to natural disasters worldwide, from flood and hurricane relief in Louisiana, to earthquakes in Ecuador, Nepal, and China, to tsunamis in the Indian Ocean.'
The ASCAP Foundation is a 501(c)(3) public charity dedicated to nurturing and sustaining the creative incentive for music creators through a variety of educational and professional initiatives. We operate and support vital programs each year that impact millions of music creators and music lovers of all ages throughout the Unites States. We welcome your contributions which are tax deductible to the full extent allowed by law.
“The Pay It Forward program is designed to give the artistic community an easy and innovative path to directly contribute to the causes that matter to them most,” said Royalty Exchange CEO Matt Smith. “By offering a frictionless donation experience, our goal is to turn the Royalty Exchange marketplace into a meaningful funnel of financial support to these worthwhile causes.”
About Royalty Exchange
Royalty Exchange helps artists and other creative rightsholders raise money by connecting them to private investors interested in buying royalties. We offer a centralized, open marketplace to conduct royalty auctions, bringing transparency to a historically private process. The result maximizes value for royalty owners and provides a standardized and secure alternative investment opportunity for buyers and investors.
Established in 1989 by The Recording Academy, MusiCares provides a safety net of critical assistance for music people in times of need. MusiCares' services and resources cover a wide range of financial, medical, and personal emergencies, and each case is treated with integrity and confidentiality. For more information, please visit www.musicares.org.
About Music For Relief
Founded by two-time Grammy winning/multi-platinum rock band Linkin Park, Music for Relief is a 501 (c) (3) non-profit organization dedicated to providing aid to survivors of natural disasters and the prevention of such disasters. Since its inception in 2005, Music for Relief has raised over $9 million for survivors of multiple disasters across four continents including the 2004 Indian Ocean tsunami, Hurricane Katrina, the Ebola Outbreak in West Africa, the Haiti Earthquake and the Tohoku earthquake & tsunami in Japan. Music for Relief is committed to protecting the planet and has planted over 1.3 million trees to help reduce climate change and created Power the World, to bring clean energy solutions to the 1.3 Billion people worldwide without electricity. The organization was recognized by United Nations Secretary-General Ban Ki-Moon for the Download to Donate for Haiti program and in 2016 alone, reached over 100 million people with critical information about global humanitarian causes. www.musicforrelief.org.