Sound Royalties is a New York-based finance company responsible for a new form of the Bowie Bond. In 1997, David Bowie and his banker David Pullman orchestrated the issuance of $55 million in $1,000 denominated bonds on future earnings of Bowie’s music. The bonds were a way for Bowie to buy back full ownership of his older recordings. The bonds were eventually purchased by a division of Prudential. In 2007, the bonds liquidated and Bowie owned his old catalog. Sound Royalties is offering something similar to musicians, songwriters and producers in response to all the financial difficulties artists face in the new streaming economy. The company gives the music industry up-front funding based on future earnings of their music. To find out more about Sound Royalties go to the official site.
