Idolator

Michael Sweet, frontman for heartwarming Christian cornballs Stryper, has "joined forces with a company that will soon revolutionize the music business" in a unique way of getting out of debt. "SongVest is the name of the company and they are launching an auction where a Stryper fan can purchase a portion of the songwriter's share of Stryper songs. You will, in effect, own my music with me." A quck visit to SongVest's Web site gave us a glimpse into a future where strapped singers and broke bands will happily treat their art like eBay merchandise, provided it takes care of those child-support payments and student loans.

By connecting songwriters with investors through auctions, SongVest is transforming the music industry. We've created a new venue for the trading of artists' intellectual and commercial property—their song rights and associated royalty streams.

Songwriters, now you can sell your rights to the highest bidder. In essence, it's payday. And because all transactions are reviewed and managed by legal and financial experts to make sure they're entirely lawful and future royalty payments are sent promptly, buyers can play their song all the way to the bank.

So you bid on a song (or songs), and if you win, it is yours to keep, royalty payments and licensing opportunities included. Keep in mind, however, that owning part or all of the Stryper catalog is a "duty [that] can not be taken lightly," as "you are required to actively promote the song to the best of your ability." Thankfully, if "you are new to the music industry and don't currently have your own publishing company, SongVest will act as your publisher as specified by the Seller" for a minimal fee that "can range from 20% to 25%" of the royalties.

Naturally, as Stryper is "a band, called by God, to pioneer new methods of getting His message out," they are early adopters, but ideally at some point you'll be able to buy songs that aren't God-squadding pop metal. For instance, right now SongVest is advertising hits popularized by Eddie Rabbitt, and—somewhat more inexplicably—Garth Brooks' mega-smash "Friends In Low Places." If anyone wants to help us bid on that one, holler.

Own A Piece Of Stryper's Music [Blabbermouth]
SongVest [Official Site]