Own a piece of the royalties for Wiz Khalifa’s ‘See You Again’
Now you too can own a piece of Wiz Khalifa’s lucrative music career — if you have at least $31,000 on hand.
A background vocalist who performed on Wiz’s record-setting hit “See You Again” is selling his royalties to the song at auction on Royalty Exchange, the world’s first online marketplace for music royalties.
The name of the performer, who is putting up 100 percent of his U.S. digital performer royalties, is withheld until after the auction closes, according to Hannah Schwartz, publicity coordinator with Shore Fire Media, which represents Royalty Exchange.
The auction ends at 3 p.m. Aug. 7.
As of Aug. 3, the bidding price was $31,000. The bidding increment is $1,000, and buyer and administrative fees apply.
The first payout will be in April 2018 for royalties that will have accrued following the auction. The previous 12 months’ royalties are listed as $11,372 at royaltiesexchange.com.
“See You Again” features Khalifa and Charlie Puth and was used in the 2015 movie “The Fate of Furious. Earlier this month, it broke “Gangnam Style’s” five-year streak as the most-viewed YouTube video of all time, spent 12 weeks (the longest ever for a rap song) at No. 1 on the Billboard Hot 100, and was 2015’s top-selling track worldwide.
Founded in 2011, Royalty Exchange is a Denver-based, privately held company that connects music creators looking to sell their royalties with investors looking to acquire royalty income
It deals mostly in songwriting and other music properties, along with other intellectual properties including photos and videos, Schwartz says.
Royalties Exchange has handled the sale of royalties for music performed by other artists, including Beyonce, Jay Z and Taylor Swift, along with royalties coming to the estate of the late “Sesame Street” songwriter Tony Geiss.