Plies' "Ran Off On Da Plug Twice"
This single song auction is for the royalties generated by the viral hit “Ran Off On Da Plug Twice” featuring hip-hop artist Plies.
- Closed May 16, 2018
- Life-of-rights term
- Musical Composition
- BMI
About This Auction
- $1,854
- Musical Composition
- Public Performance
- No
- Distributors
- BMI
- Sources
- Internet Streaming, AM/FM & Satellite Radio, TV/Film/Commercial Performances, etc.
- Life of author + 70 years
- First Payment
- June 2018
- Starting Price
- $3,700
- Bidding Increment
- $200
- Closing Price
- $12,500
- End Date
- May 16, 2018, 1:18 PM MDT
- Buyer Fees
- $500 BMI Account Set Up Fee
*BMI charges a one-time fee of $500 to open a new payee account, which will be debited from the payee's first royalty distribution. Once opened, multiple royalty streams can be routed to the buyer's payee account. If you already have a BMI payee account, there is no fee.
Description
Last year, we auctioned a larger portion of this catalog, you can see that listing here. Now up for auction are the remaining public performance royalties generated by the hip-hop artist Plies' 2016 hit “Ran Off On Da Plug Twice." In the last 12 months, those earnings have brought in $1,854.
The song was originally released with the title “Ritz Carlton,” as part of Plies' mixtape Ain’t No Mixtape Bih 2. The music video premiered online via WorldStarHipHop's YouTube account. As a result of the video's instant viral popularity, Plies changed the title to “Ran Off On Da Plug Twice." On the charts, the track hit No. 42 on Billboard's Hot R&B/Hip-Hop Songs and No. 17 on the Bubbling Under Hot 100 Songs both in 2016.
With the video's online popularity, it's no surprise that “Ran Off On Da Plug Twice” earns the majority of its income from streaming. Pandora and YouTube lead the way in streaming income with 18% and 13% of royalties, respectively. The song's video has amassed over 53 million YouTube views and has nearly 25 million Spotify spins, making it Plies' most popular song on Spotify to date.
Interestingly, the video and song gained viral fame when NFL star Odell Beckham Jr. published a YouTube video of himself dancing to the song. It's since become a bit of an online phenomenon among fans, college football players, and online stars creating hashtags, memes, and GIFs of themselves running in place as they sing along with the chorus of the song.
Key Drivers
Recently, hip-hop overtook rock as the most popular genre of music in the U.S. Hip-hop accounts for 25.1% of all music consumption, with rock right behind it at 23%. Digital streaming is the driver for the increase, outlined by Nielsen's report.
What's exciting is that this catalog is a perfect example of these two trends: hip-hop and streaming's worldwide growth. Streaming sources account for 57% of the catalog's income with Pandora and YouTube as the top sources. Streaming royalties are on the rise worldwide. If you're interested in learning more about streaming revenues' significant growth across the industry, click here.
What is being sold?
25% of Seller's interest in the of domestic (United States) and 100% of Seller's interest in international royalties attributable to the musical composition "Ran Off On Da Plug Twice" (BMI Work # 21558472).
How does this asset make money?
Every time "Ran Off On Da Plug Twice" is played on the radio, Pandora, YouTube, or any other type of , you earn royalties. BMI makes payments quarterly and the first distribution you will receive is June 2018.
Unless the buyer opts out of the opportunity, this listing will automatically be relisted as a "Buy It Now" sale at a premium over the closing price. The relisted asset will remain live until it is purchased, or until its first royalty distribution. This gives the winning bidder the chance to earn an immediate return on the asset while awaiting the first royalty payment.
About the Royalty Distributor
BMI represents more than 10.5 million musical works created and owned by more than 700,000 songwriters, composers and music publishers. BMI supports businesses and organizations that play music publicly by offering blanket music licenses that permit them to play more than 10.5 million musical works.
Royalty Exchange will administer the quarterly payments from BMI. The first distribution for the June 2018 BMI statement will be paid in July.
Historic royalty income is no indication of future royalty income. Future royalty income is dependent upon future sales and licensing revenue generated by the sound recordings or compositions associated with this listing.
Financials
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Earnings over time, and where they came from.
FAQ
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Answers about the term, the bidding and the royalties.
Media
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Videos, audio and images from the catalog.
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