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Riteband Sound Investments

Reference number
Coordinator RITEBAND AB
Funding from Vinnova SEK 300 000
Project duration March 2017 - June 2017
Status Completed
Venture Innovative Startups

Purpose and goal

Riteband´s business idea is to value music copyrights by creating a secondary market for the trading of shares of future revenue from music that will expose the underlying financial assets. Thanks to the support from Vinnova, a prototype has been developed that demonstrates an opportunity for songwriters and music publishers to be pre-financed by fans and other institutional investors. The financial risk is shifted from creators to investors who can make money when they find the hit before the market does.

Expected results and effects

The overall objective of the project was to build a prototype of a secondary market for music rights. By spreading ownership in the music industry and opening up for anyone to gain access to the value creation of the music industry, broad incentives are created to positively influence the economic development of the music industry and curb the illegal exploitation of intellectual property rights. The demonstrations of the Riteband-app at music fairs resulted in great feedback on the business idea and will hopefully also lead to new funding, partners, talent attraction and recruitment.

Planned approach and implementation

The design and implementation of the project in the four so-called work packages structured the work in a very good way. It became clear which goals were a little too ambitious for the budget and the timeframe, and the structure also clarified what resources and competences proved difficult to find to engage in the project.

The project description has been provided by the project members themselves and the text has not been looked at by our editors.

Last updated 25 November 2019

Reference number 2016-05561

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