Part of Eminem‘s catalog is going to be launched as an IPO and publicly traded.
The company Royalty Flow has purchased a percentage of royalty revenue from Slim’s catalog, consisting of “My Name Is,” “Lose Yourself” and every other song he released from 1999 to 201, and intends to list on the stock exchange. The company purchased its shares in the Detroit native’s catalog from Jeff and Mark Bass, who initially signed Eminem, and their manager Joel Martin.
In a press release on Monday, Royalty Flow said that the stock will go public when they company has raised between $11 million and $15 million. Once the stock is made public, individuals can buy, sell, and trade.
“Royalty Flow intends to acquire and hold royalties from music catalogs of the world’s biggest music artists,” the company wrote in a statement.
You’ll have to have some serious capital to get started though, minimum buy-in is expected to be $2,250 for 150 shares ($15 per share).
Eminem has declined to comment for this story with a rep stating that “Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company,” the rep told Variety. “The decision to offer the royalty stream for sale or otherwise was made independently by a third party who retains royalties for an early portion of his catalog and Eminem was not consulted.”