Music is a universal language that transcends boundaries and draws together people of all cultures. When musicians collaborate on compositions they share the magic of sound and song as an embodiment of human expression. With such a deep sentimentality involved with music, many artists have found it hard to turn down lucrative offers from big companies for their songs. However, with recent changes in copyright laws, this may be changing.
In what might be the most exciting news for indie artists in recent memory, Pro Music Rights has gone public. This is huge for competition in the industry, and big news for artists everywhere looking to get paid.
Pro Music Rights Goes Public: What Does This Mean?
This means that any independent artist who wants to sell their music rights as a business can now do so. And it's not just about getting your song on iTunes or Spotify; it's about earning royalties, keeping control of your work, and marketing yourself. We're living in an era where music is going digital and everyone has access to production software at no additional cost.
Who Was Involved In The Reverse Merger?:
The reverse merger was between Pro Music and a shell company called Nuvus Gro Corp. (a company incorporated in the United States that was created through the reverse merger of two other Canadian companies). Pro Music issued shares to Nuvus Gro Corp. shareholders and became the "public" part of the entity, whereas Nuvus Gro Corp became the "private" part.
The most controversial aspect of the transaction relates to who actually owns the Pro Music Rights.
Pro Music Rights has been owned by a Swiss corporation (NMCG SA). However, this company is "located" in Switzerland, but it does not currently have an office there. Records available at public record offices in Geneva show no evidence of any Swiss corporation existing under that name at all.
What Is The New Company Like, What Services Do They Offer?:
Pro Music Rights is a passionate, purpose-driven business with no affiliation with any major record label. Our vision as artists and entrepreneurs is to give you control over your intellectual property and create value for our artists through licensing their music.
We are a young company, but what separates us from many other companies out there is that we have the ability to adapt quickly and make sure that the entire process from start to finish is truly beneficial for our artists.
We are currently working on building out our technology platform for publishing rights and international streaming royalties. This will enable us to move forward with licensing deals and marketing campaigns to bring more artists on board.
Our company represents a unique value proposition for artists and music fans alike because we are currently the only company that has made the transition from being a business exclusively focused on the publishing rights of music, to a fully integrated content creation and distribution platform.
Is The Stock A Good Buy?
The new business model seems to be paying off. The company's shares were up 44% in their first three days of trading, closing at $1.25 on NYSE on Thursday, February 5th. With Pro Music Rights now public, many industry insiders are excited about the company's future prospects.