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"Press Record" Launched as NFT-Powered Song Marketplace Owned By Stone Rolla Media:
- Tuesday, Jan. 11, 2022
New Company is First Music Industry Platform to Offer Curated NFTs for Exclusive First Use Song Licenses
LONDON and LOS ANGELES
“Press Record” has been launched as a new web3 NFT-powered song marketplace and is wholly-owned and operated by Stone Rolla Media, an L.A. and London based music publisher. The new platform will auction NFTs of original songs written and performed by emerging and underground artists based around the world. According to Stone Rolla Media founders Gyles Gyesie and Cliff Simms, Press Record instantly becomes the first music industry platform to offer curated NFTs for exclusive, first-use song licenses.
Upon its launch, Press Record is offering an initial 25-50 previously unreleased songs from Stone Rolla Songs’ songwriters for auction as digital NFTs. When the highest bidder for each song wins, he/she will acquire the NFT of the first mechanical license to that song, meaning that the winning bidder will have the exclusive right to record and release that song before anyone else. The winner bidder will also receive a percentage of the copyright of that song. The percentages of copyrights being offered to auction bidders will vary, depending on the popularity of the artist who will be recording the song.
To enter into the first Press Record NFT/song auction, please visit: www.pressrecord.io
The executives behind Press Record are asking songwriters and artists to submit their “best unreleased songs” so that the Press Record A&R team can give them a listen and consider them for auction – the songs must never have been previously released. If accepted, the Press Record A&R team will customize each NFT song auction to fit the needs of the songwriter or publisher that submitted the song – and make the song available to other artists and labels within the Press Record marketplace. Once an auction sale of that song is completed, Press Record will issue the first use song license on behalf of the songwriter or publisher. The person or publisher that submitted the winning song will begin to receive royalties instantly, via Press Record’s smart contract, developed with the Metaplex protocol on the Solana blockchain.
Regarding the launch of their new label, Gyesie and Simms said, “The emerging NFT market is generating a remarkable new revenue stream for artists. We designed Press Record to work with companies within this new space to create digital collectibles and experiences based not only around our Stone Rolla Songs catalogue but also from selections of music from other labels, publishers and artists. Press Record represents a ‘new model' in song pitching and NFT releases and strategies – our new platform is the first NFT marketplace that unites quality songs with the best artists.”
“At Press Record, we let the music speak for itself,” Gyesie and Simms add. “Our focus is on uniting quality songs with the best artists, fostering collaboration that otherwise would not have taken place. We will breathe new life into unreleased song catalogues, helping our clients find that latent hit that they wrote a while back but did nothing with. We believe songs are essential to our culture – songwriters are important and need to be properly compensated for their inspiring works of art. We are dedicated to our mission – to build a Web3-powered music industry that is more sustainable, equitable and inclusive than the industry that has existed up until now.”
About STONE ROLLA SONGS
Launched in early 2020 in London and Los Angeles, Stone Rolla Songs (SRS) represents a modern music publishing service. The company provides a global collection of publishing royalties from over 20,000 unique income sources, as well as sync in Europe and globally; and song pitching and co-writing opportunities, with some of the world's leading songwriters, producers and artists. The company actively seeks unsigned songwriters who have cuts, offering them a fairer deal than the majors. Stone Rolla also actively seeks to generate new opportunities for legacy catalogues, by which to increase the overall revenue of those catalogues.
The Executive Management Team behind Stone Rolla Songs consists of a diverse team with a wealth of music industry experience. The team includes: Tracy Cunliffe, who as Managing Director of Kontraband Records was the first female to lead an independent record label in the UK. Cunliffe eventually sold the label to Sony Music in 1999; Cliff Simms, a lifelong music publisher, who has previously worked for EMI Music, Sony Music and several independents, as well as previously launching his own start up creative agency, Resident Alien, and becoming a music rights consultant for Facebook. Simms was also a leading consultant in the sale of the Buddy Holly song catalog on behalf of the Buddy Holly Estate; and Gyles Gyesie, a multi-skilled creative entrepreneur who has worked extensively with some of the biggest artists on the underground scene, as well as having involvement with various startups over the years.
Among its achievements during its initial 18 months, Stone Rolla Songs:
- Scored its first UK Top Ten single: “Awake” by Gemma Fox & Earcandy
- Secured a global creative and administrative agreement with Downtown Music. Having recently sold its catalogue, Downtown Music is now focusing on being the market leader in the music services sector. Stone Rolla Songs’ partnership with Downtown Music allows Stone Rolla unique access to their growing services, which the company can provide tailor-made to its clients.
- Is developing a roster of award-winning songwriters and performers, while concurrently building a multi-genre catalogue of musical rights, focusing on emerging trends within countercultures;
- Amassed over 1,000 copyrights with over 15 songwriters currently on its roster;
- Represents songs recorded by artists including: Avec Sans, Boy Deluxe, Art d’Ecco, Snoop Dogg, Lil Yachty, Kodie Shane, Yxng Bane, Wiley, Scarlxrd, Leto, DonMonique, Lethal Bizzle and more;
- Is currently expanding its catalog with key new songwriter signings, and in turn, percentages of songs by Ariana Grande and Dua Lipa, among other Top 40 artists
- And has highlighted future catalog acquisition targets, which would involve Stone Rolla purchasing songs as long-term assets
About PRESS RECORD
Launched in January 2022 as a new wholly owned company of Stone Rolla Media, Press Record is the first music industry marketplace to offer curated NFTs for exclusive, first-use song licenses.
Press Record offers songs from songwriters and publishers for auction as digital NFTs. When the highest bidder for each song wins, he/she will acquire the NFT of the first mechanical license to that song, meaning that the winning bidder will have the exclusive right to record and release that song before anyone else. The winning bidder will also receive a percentage of the copyright of that song. The percentages of copyrights being offered to auction bidders will vary, depending on the popularity of the artist who will be recording and releasing the song.