Photo Credit: Ashley King
Roc Nation has announced a partnership with South Korean fintech company Musicow to launch the first Music Equity Service Provider (MESP) in the United States.
The partnership embodies a shared vision of empowering superfans to earn revenue alongside their favorite artists by introducing music royalties as an alternative asset class. In addition to enabling distribution of Musicow’s assets through Roc Nation, the collaboration will allow creators to securely fractionalize royalty revenue from their songs and sell shares, enabling fans to earn alongside them.
“The music industry is evolving into a shared ecosystem where fans and creators can earn together,” says Roc Nation Vice Chairman Jay Brown. “Our mission is not only to support and empower artists by providing the tools and services they need to build a better music ecosystem but also to give everyone access to the financial opportunities the music industry offers.”
“Partnering with Roc Nation is an incredible opportunity to drive innovation and redefine the future of our industry,” adds Woo Rhee, CEO of Musicow US. “I’m confident that together, we have the vision, expertise, and enthusiasm to create transformative progress and unlock limitless potential.”
The MESP partnership between Roc Nation and Musicow is expected to launch Q1 2025. Early users can sign up now to receive $10 in their Musicow wallet and be the first to earn music royalties with their favorite artists. Musicow was established in South Korea in 2017 as a way to capitalize on superfans who follow a group’s every move. This partnership will bring the first MESP to the United States.
While the press release makes no mention of NFTs, Musicow holds several patents related to the tokenization of music via NFTs on a blockchain. Early adopters in the NFT space include Kings of Leon, who were the first band to release an album as an NFT—with a limited class released that included life-time front-row seats.