A background vocalist who performed on Wiz Khalifa's hit "See You Again" is selling his royalties to the song at auction on Royalty Exchange. Royalty Exchange works by connecting music creators looking to sell their royalties with investors looking to acquire royalty income. The company Royalty has hosted hip-hop auctions before including songs performed by Jay-Z and Dr. Dre.
Up for auction is 100% of the seller's interest in domestic sound recording performance royalties, and 30% of the international royalties. The seller performed background vocals on the recording, and receives non-featured performer digital performance royalties. AFM & SAG-AFTRA Intellectual Property Rights Distribution Fund, a non-profit organization that distributes royalties to session musicians and background vocalists, pays these royalties annually.
The auction ends Aug. 3 at 3 p.m. MDT.
The first payout will be in April 2018 for royalties that will have accrued following the auction. The previous 12 months' royalties are listed as $11,372 at royaltiesexchange.com.
Released in 2015, “See You Again” was commissioned for the 2015 film Furious 7 as a tribute to the late actor, Paul Walker. The song quickly became a hit, spending 12 weeks at No. 1 on the Billboard Hot 100. It broke records, including the most-streamed track in a single day on Spotify in the United States, the most streams in a single week worldwide, and in the United Kingdom in a single week as well.
Most recently, on July 10, 2017, “See You Again” became the most-viewed YouTube video of all time with 2.8 billion views. "See You Again" was the best-selling song of 2015 worldwide, with combined sales and track-equivalent streams of 20.9 million units according to IFPI, the International Federation of the Phonographic Industry. The song has received numerous awards and accolades including a Critic's Choice Award, a Hollywood Music in Media Awards, a Hollywood Film award and more. Nominations include three Grammy nominations, including Song of the Year and Best Pop Duo/Group Performance, and a Golden Globe nomination for Best Original Song.
