The New York Rock Exchange may at first appear to be a new form of investing in songs. Though that is a key element of the Exchange, owning shares seems more akin to joining an artist fan club and adding ownership to one of the perks afforded superfans. A campaign for Leslie Craig's "Rockstar" illustrates their approach.
Introducing New York Rock Exchange
Note that buying a share of Rockstar for a little under $36 includes a "special reward direct from Leslie Craig — A limited edition print of her album artwork." In addition to a certificate one receives a "small royalty."
The New York Rock Exchange's Overview states:
"Owning a share makes you an insider and gives you access to certain perks and benefits that aren’t available to the general public. Sometimes it’s early access to new music or show tickets, band merchandise or insider information. But whether it’s a quarterly shareholder report or an exclusive download of an unreleased track, it always comes straight from the artist."
Along with variations on the idea that owning a share in a song brings one closer to the band, New York Rock Exchange seems more like a superfan site than an investing platform. Of course, as noted, "New York Rock Exchange shares are NOT shares of stock, or any other sort of security."
New York Rock Exchange seems particularly strong as a potential paid program for superfans. Certainly early adopting artists should be able to get some marketing mileage out of participation.
Hypebot Senior Contributor Clyde Smith (Twitter/App.net) blogs about music crowdfunding at Crowdfunding For Musicians (@CrowdfundingM). To suggest topics for Hypebot, contact: clyde(at)fluxresearch(dot)com.