Alex Guiva’s career arc doesn’t fit that of a typical music impresario. When he won a slice of “Bodak Yellow” at auction for $110,000, he wasn’t familiar with the tune itself or its performer, a rising hip-hop star from the Bronx
lex Guiva’s career arc doesn’t fit that of a typical music impresario. Born in Ukraine, he moved to Arkansas in 1997 to attend Lyon College before settling into a corporate finance job at a Dallas investment boutique.
Part of the allure is the simplicity of the Web-based platforms. Royalty Exchange users sign into a free account and, after a phone verification for first-time bidders, can buy in three ways.
Smith tuned into Royalty Exchange much the same way Guiva did, drawn more by income potential than by a particular band or song. The serial entrepreneur came across the service several years ago while looking for a way to invest in music copyrights. The North Carolina-based outfit, which was founded in 2011, was struggling at the time, and Smith decided not to buy any catalogs—but he did end up purchasing the company’s assets for an undisclosed sum.
“That was a blessing in disguise, and I say that because the more interesting business has always been the exchange,” says Smith, who subsequently abandoned the IPO to double down on connecting artists and investors trading smaller catalogs. For recording artists, songwriters, producers, backup singers and cowriters, who typically get a percentage of royalties, using Royalty Exchange is a snap. All they need to do is sign in with the credentials they already have from performing-rights organizations and they receive an instant appraisal of their catalogs. They can then place a portion up for auction, either for a specified term or for the life of the copyright.
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