To Do: Buy Friends in Low Places

by jill ~ September 11, 2008

Selling songs is nothing new.  Michael Jackson bought the song rights to all of The Beatles’ repertoire a few years back, but now, according to this article in today’s Wall Street Journal, some very well-known songs by Garth Brooks, Cher and Aerosmith are going on the auction block for everyday people. 

Through SongVest (which is likened to a souped-up iTunes), apparently the Garth Brooks megahit “Friends in Low Places” is just one of the songs that is estimated to fetch up to $250,000.  And if you’re not in the market to spend that kind of money, you can also buy shares of the songs, like any other investment.

Good news for anyone worried that buying a song would require a lot of work and market strategizing:

“People who buy the songs will receive a share of royalties the tunes generate, but they won’t have input into important matters like the songs’ use in television commercials or movies. That right will reside with who controls the publishing rights to the songs — usually a large music publisher that will continue to collect half the royalties generated by any given song.”

My prediction: In a few years, some girl named Charlotte will be given the rights to 50 Cent’s “In da Club” as a gift during her MTV Super Sweet Sixteen party.