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Contemporary Jazz Legend Walter Beasley
Highlighted by "I'm Back," which peaked at #1 on the Billboard Smooth Jazz Songs chart.
Top Bid: Ron B
Bidding Increment: $1,000
Closing Price: $53,000
End Date: Aug 23, 2016, 3:01 PM MDT
Past 12 Months' Royalties: $8,053
Royalty Type: Public Performance
Walter Beasley is a contemporary jazz legend known for multiple hit songs that have reached #1 on Billboard charts. One of those tracks, "I'm Back," is included in this catalog. This auction is for 100% of the seller's songwriting and publishing interest in the public performance royalties attributable to the seller's catalog of musical works, currently administered by SESAC. Walter Beasley's latest album I'm Back, was released in 2015. The album's first single of the same name has been well received by fans and critics and has enjoyed radio play since its release. This is important because every time the song "I'm Back," or any other song from this catalog, is played on the radio the winner will get paid a royalty. Interestingly, the second single off of I'm Back titled "Skip to My Lew" is slated for a marketing push in September 2016 and is projected to receive radio air time as well.
The catalog available for auction is a diverse mix of songs representing Walter Beasley's storied career over the past two decades. Beasley is not only an accomplished musician, but also a professor at the Berklee College of Music. Incredibly, Walter is the highest selling full-time professor/recording artist in history. The phrase "Musical Renaissance Man" best describes Walter as he continues to grow his list of accomplishments as a saxophonist, vocalist, educator, and entrepreneur. He can often be found performing live throughout the United States and Caribbean.
SESAC will distribute the royalties to the winner of this auction on a quarterly basis. The winner of the auction will receive the first royalty check in September 2016. This asset has generated $8,053.77 in the most recent 4 quarters of statements, and more detailed financial information can be found in the "Financials" tab.
What is being sold?
100% of the seller's songwriting and publishing interest in the public performance royalties attributable to the seller's catalog of musical works, currently administered by SESAC.
how does this asset make money?
Every time a song from this catalog is played on the radio, Spotify, Pandora, Rhapsody, YouTube, SiriusXM, or iTunes Radio, you earn royalties. SESAC will distribute the royalties to the winner of this auction on a quarterly basis. The next SESAC payment is scheduled for September 2016.
what is interesting about this asset?
Walter Beasley released his latest album I'm Back in 2015. The first single from the album (also titled "I'm Back") has performed incredibly well, peaking at #1 on the Billboard Smooth Jazz Songs chart and the Smooth Jazz National Airplay chart. As expected, this song has generated notable royalties. Since its release in 2015, it has earned $2,809.24, with the majority of those royalties coming from radio.
The winner of this auction will capture the royalty upside from "Skip to My Lew," the second single from the album I'm Back. "Skip to My Lew" is slated for a September 2016 marketing push and is expected to enjoy radio airplay. To date, "Skip to My Lew" has not generated any radio play or royalties, but the winner of the auction will be the first to collect any royalties from the song. While there are no guarantees, if the song performs similar to "I'm Back" it will contribute significantly to the catalog's quarterly royalty payments.
about the royalty distributors
Since being established in 1930, SESAC Performing Rights has become the nation's most innovative PRO. In a strategic move to become the United States' only Music Rights Organization, SESAC has now acquired Rumblefish, a leader in micro-licensing, and the Harry Fox Agency (HFA), the leading U.S. mechanical rights organization. SESAC currently licenses the public performances of more than 400,000 songs on behalf of its 30,000 affiliated songwriters, composers and music publishers.