Since leaving Warner Music Group in September, Cohen has been building a team and signing deals for his new venture that aims to transform the music industry.
This week, former Warner Music Group executive Scott Cohen announced his next venture: He’s launching a fractionalized music royalties startup.
Cohen joins the new and as-yet-unnamed company as an investor and the founding CEO. The announcement comes after he took to LinkedIn a month ago to share that he’d be announcing his next venture this month. Over the course of October, Cohen spent some quality time building a team to develop his company’s music investing platform and inking deals with music catalogs ahead of launch.
“We are creating a business around fractionalized ownership of music royalties,” Cohen said to Music Ally, which first broke the news on Tuesday. “I know that a few people have already tried, but this is something different. Something at scale. Access to the world’s top music catalogs and artists.”
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Fractional investing is becoming more prominent in Web3, especially across music-focused ventures. Fractionlized royalty deals on the blockchain could give fans fractions of shares of their favorite songs. It’s unclear if Cohen’s new music venture will be Web3-friendly, but he told Billboard in an email that this idea will be transformative for the music industry. He also said he has an aggressive timeline to bring the music investing platform to market.
The music executive didn’t disclose further details about his new venture at this time.
Cohen left Warner Music Group in September after serving as the company’s Chief Innovation Officer of Recorded Music for three and a half years. Before joining Warner Music Group in March 2019, he spent 21 years building the digital music and video distribution company, The Orchard. Cohen launched the music company in 1997 and later sold it; Sony acquired The Orchard from Dimensional Associates in 2015 in a $200 million deal.
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