Get A Piece Of Slim Shady On Nasdaq
Shares in Eminem’s entire hit catalog are to go public come October, as the Bass Brothers production team filed paperwork Sept. 25 with the Securities and Exchange Commission for a public offering.
McKay / Music Midtown Festival / GettyImages.com – Eminem
Music Midtown Festival at Piedmont Park in Atlanta, Ga.
Jeff and Mark Bass helped develop Eminem as an artist and hold a substantial interest in every Eminem recording since 1999. Their Ferndale, Mich.-based FBT Productions signed the Detroit rapper known as Marshall Mathers to a local record deal in 1995, transferring that contract to Dr. Dre‘s Aftermath Records three years later.
But FBT sued Aftermath in 2011 over royalties and won, resulting in significant growth of royalty payments since.
According to Royalty Flow, the Bass Brothers-founded startup behind the public offering, royalties from the catalog grew 43 percent between 2015 and 2016, though the artist hasn’t released a new album since 2013. He maintains his own royalty streams from his songs and recordings.
“Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company,” a spokesman for Eminem told Pollstar via email. “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.”
If he’s bothered by that fact, it’s worth noting that Slim Shady also hasn’t staged a full tour or made an American live appearance since 2014, but has appeared at international festivals since then, including the twinned Leeds and Reading festivals in the U.K. August 26-27. Lifetime, he’s grossed almost $120 million from concert box office.
On the public offering, the company hopes to raise up to $50 million.
In its SEC filing, the company the company cites the growth of digital downloads and streaming music as a driver.
“Music streaming is booming and we believe is leading the way toward an anticipated music industry resurgence,” the company said.
Royalty Flow is working with FBT Productions to acquire more royalty rights. In the meantime, the company intends to sell up to 3.3 million shares of stock for $15 apiece. Investors would be required to purchase a minimum of $2,250 in stock.
If the IPO is approved, the company expects to trade under the “RLTY” symbol on the Nasdaq exchange.