Initial demand for the British rock band's manager’s commissions outweighed supply by 85 percent on the online royalty marketplace.
Royalty Exchange, an online marketplace that turns music loyalties into assets for investment, announced it had completed a private syndicate offer on Monday (Oct. 15) for Dire Straits' former manager Ed Bicknell's portion of their catalog. The initial demand for the British rock band's catalog outweighed the supply by a whopping 85 percent.
When the syndicate was made available to its network of investors, Royal Exchange put out a total of 925 units and received 1,719 unit requests.
“The demand for the Dire Straits catalog illustrates just how well music royalties satisfy investors’ appetite for a meaningful return in today’s investing landscape,” said Royalty Exchange CEO Matthew Smith in a statement. “On Royalty Exchange, we aggregate both supply and demand to the benefit of music creators and investors.”