Listing 5416
Cage The Elephant - Publishing Royalties
- Sony Music Publishing
- Streaming Mechanical
- Publishing
- Cage The Elephant
- Rock
- …
Offers
Sale Price
$64,000
16.75 x LTM
Listing Tools
Price Tracker
28 offers made by 11 buyers
- List price
- Closed
- Accepted
Offer History
$64,000
Buyer 10 made 2 years ago
Accepted$72,000
Seller made 2 years ago
Seller Offer (Rejected)Seller Counteroffer (Rejected)$26,000
Buyer 2 made 2 years ago
$72,000
Seller made 2 years ago
Seller Offer (Rejected)Seller Counteroffer (Rejected)$31,000
Buyer 3 made 2 years ago
About
- $3,822
- 3-Year Average
- $3,153
- Earnings Since 2012
- $27,829
- 10.25 Years
- Works Included
- 46
- $**,***
- $15,000
- Owner Last Active
- Over 30 days ago
- Life of Rights
- Musical Composition
- Mechanical, Public Performance, Sync
- No
- Payor
- Sony Music Publishing
The information on this listing was accurate as of the last earning statistics update on
Overview
Included in this listing are the publishing royalties from rock band, Cage the Elephant's first four albums - Cage the Elephant, Thank You Happy Birthday, Melophobia and Tell Me I'm Pretty.
The catalog has shown steady earnings growth over the past five years with a Compound Annual Growth Rate (CAGR) of 17.03%. This is significantly higher than the 50th percentile (-4.37%) across all catalogs analyzed and even surpasses the 75th percentile (10.92%).
The trajectory of the catalog's earnings begins with an initial sum of $1,851 in the first year, growing to $2,492 in the second year—at a rate of 34.62%. The catalog experienced a negative growth rate of -5.69% in the third year, with earnings reduced to $2,350. However, the fourth year saw a significant rebound, with earnings increasing by 39.87% to $3,287. The fifth year continued this upward trend, with growth of 16.28% leading to earnings of $3,822.
An important factor to consider is the Dollar Age of this catalog, which stands at 10.24. This metric suggests that the songs earning royalties in the past year have been doing so, on average, for a little over a decade. This is a positive indication. Older catalogs tend to have more predictable and stable earnings.
This catalog demonstrates a promising trend of growth, with a strong CAGR and a high Dollar Age.
Artist & Song Information
Cage the Elephant is an American rock band formed in 2006 in Bowling Green, Kentucky. The band consists of Matt Shultz (vocals), his brother Brad Shultz (rhythm guitar), Nick Bockrath (lead guitar), Matthan Minster (guitar, keyboards), Daniel Tichenor (bass), and Jared Champion (drums).
Early in their career, the band signed with Relentless Records after showcasing at the 2007 South by Southwest music festival and supported Queens of the Stone Age on tour. Their 2008 self-titled debut album featured the single "Ain't No Rest for the Wicked," which was included in the video game "Borderlands" and the 2010 movie "The Bounty Hunter."
The band's second album, "Thank You, Happy Birthday," debuted at Number 2 on the Billboard 200 in 2011 and received positive reception from most critics. It was heavily influenced by punk rock and bands like Pixies and Nirvana. The band supported the album with performances on late-night shows and at music festivals like Coachella and Glastonbury. They also toured with the Foo Fighters, and their hit song "Shake Me Down" was nominated for an MTV Video Music Award for Best Rock Video in 2011.
Their third album, "Melophobia," came out in 2013, followed by "Tell Me I'm Pretty," produced by Dan Auerbach, in 2015. Not included in this catalog is "Social Cues," their fifth studio album, released in 2019. Cage the Elephant has won the Grammy Award for Best Rock Album twice, once in 2017 for "Tell Me I'm Pretty" and again in 2020 for "Social Cues".
Regarding their cultural impact, Cage the Elephant is known for subverting expectations and not adhering to traditional rock band narratives. Their album "Social Cues" deals with themes like a breakup and the perils of fame but does so with breezy vibes and funky rhythms. Frontman Matt Shultz emphasizes not being confined to the rock genre or any genre-based titles, reflecting a broader trend in contemporary music.
Cage the Elephant's journey from a Kentucky indie band to Grammy-winning artists is marked by their eclectic musical influences, willingness to evolve, and energetic live performances. Their approach to music, which transcends genre boundaries and embraces change, reflects and contributes to the broader shifts in the contemporary music landscape.
Other Information
Similar Listings. We previously sold another share of this catalog in December 2022 for 13.37x the last 12 months' earnings.
This catalog will not be automatically added to the Secondary Market of The Exchange. The winning bidder can contact Royalty Exchange to relist.
Financials
Earnings By Period
Half-yearly, as statements report
- Domestic
- International
- Net
| Year | 2019 | 2020 | 2021 | 2022 | 2023* |
|---|---|---|---|---|---|
| Earnings | $2,599 | $2,192 | $2,811 | $3,496 | $1,948 |
* 2023 earnings have not been paid for the entire year.
Works
Last 12 months
"Cigarette Daydreams", has had an impressive growth trajectory with a CAGR of 37.3%. The song saw a significant growth spike in its fourth year, with annual growth of 116.93%, which was followed by a slight increase of 1.99% in the fifth year.
"Ain't No Rest for the Wicked" has displayed a relatively lower CAGR of 1.83%. The song experienced a drop in annual growth in the third and fifth years, with the fifth year recording a decrease of 28.94%.
“Trouble” has a CAGR of 28.05%, "Come a Little Closer" a CAGR of 31.9%, and "Mess Around" has a CAGR of 20.76%.
Finally, the rest of the catalog has a modest CAGR of 8.85%.
The consistent growth in royalties, especially from the songs "Cigarette Daydreams" and "Come a Little Closer", indicate the potential for future growth. The rest of the catalog, with its stability, provides a balance to the royalty stream.
| Works | Earnings | Share |
|---|---|---|
| Cigarette Daydreams | $760 | 20% |
| Ain't No Rest For The Wicked | $668 | 17% |
| Trouble | $645 | 17% |
| Come A Little Closer | $634 | 17% |
| Mess Around | $252 | 7% |
| Other | $863 | 23% |
Income Types
Last 12 months
Streaming Mechanical, with a Compound Annual Growth Rate (CAGR) of 18.46%, shows consistent growth in income. The growth was particularly strong in year 4, with a 58.8% jump from year 3. This was the highest annual growth across the entire five-year period for this income type. This growth contributed to Streaming Mechanical's increasing importance in overall earnings, peaking at 37.66% in year 4.
Streaming Performance shows a steady growth in income with a CAGR of 12.97%. Although its share of overall earnings varied slightly, it remained between 29.2% and 33.91% over the five years.
Not unexpectedly, Synchronization income showed the highest volatility, with a substantial increase in Year 2 (512.41%), a sharp decline in Year 3 (-41.89%), and significant growth in Years 4 and 5 (101.83% and 123.73% respectively). Despite the fluctuations, it had the highest CAGR of 97.44%.
Streaming Synchronization income also showed steady growth, with a CAGR of 13.91%. Streaming Synchronization is the income type reported by Sony Music Publishing for royalties earned directly from YouTube. Its share of overall earnings remained relatively stable, ranging between 7.26% and 9.6%.
Mechanical income experienced moderate growth with a CAGR of 12.18%. However, its share of overall earnings decreased from 5.95% in Year 1 to 5.4% in Year 5, suggesting that other income types are growing at a faster rate.
Based on this analysis, the streaming-related income types (Streaming Mechanical and Streaming Performance) appear to be the most stable and reliable sources of income in the catalog.
| Income Types | Earnings | Share |
|---|---|---|
| Streaming Mechanical | $1,288 | 34% |
| Streaming Performance | $1,170 | 31% |
| Sync | $692 | 18% |
| Streaming Synchronization | $282 | 7% |
| Mechanical | $209 | 5% |
| Other | $181 | 5% |
Sources
Last 12 months
The analysis of the catalog data suggests a diverse portfolio of royalty streams, each exhibiting different growth trajectories and overall earnings contributions.
Streaming royalties, representing the largest portion of the catalog's earnings, exhibited an overall Compound Annual Growth Rate (CAGR) of 8.08% over the 5 years. Despite a few fluctuations, it has consistently contributed around 38.65% of the total earnings.
International royalties showed strong growth (CAGR: 14.17%) and an increasing overall earnings contribution. Despite a decrease in Year 2, the growth picked up in the following years, culminating in a healthy 20.55% growth in Year 5. The increasing trend suggests expanding global reach and popularity.
TV-Film royalties demonstrated the highest CAGR (96.41%). The overall earnings contribution has grown significantly, especially in Year 5 (17.98%).
Physical Sales, despite contributing a small percentage to overall earnings, showed a solid CAGR of 33.94%. The growth was especially strong in Year 5 (89.84%), indicating a potential resurgence in this revenue stream.
While Streaming and International royalties form the foundation of earnings for this catalog, TV-Film and Streaming Video royalties could be future growth drivers.
| Sources | Earnings | Share |
|---|---|---|
| Streaming | $1,477 | 39% |
| International Sources | $1,305 | 34% |
| Streaming | $1,112 | 85% |
| Download | $33 | 3% |
| TV and Film | $31 | 2% |
| Radio | $31 | 2% |
| $25 | 2% | |
| Other | $73 | 6% |
| TV and Film | $698 | 18% |
| Physical Sales | $151 | 4% |
| Streaming Video | $130 | 3% |
| Other | $61 | 2% |
* Historic royalty income does not guarantee future royalty income. Future royalty income depends upon future sales and licensing revenue generated by the intellectual property associated with this listing. All earnings analysis and investment decisions are investors’ sole responsibility per Royalty Exchange’s Terms of Use.
Media
Included Works
| Work Title | Work ID |
|---|---|
| 2024 | 1243969 |
| ABERDEEN | 1243966 |
| AIN'T NO REST FOR THE WICKED | 1143405 |
| ALWAYS SOMETHING | 1243963 |
| AROUND MY HEAD | 1244457 |
| BABY BLUE | 1466461 |
| BACK AGAINST THE WALL | 1147611 |
| BACK STABBIN BETTY | 1147612 |
| BLACK WIDOW | 1466455 |
| BREAKAGE | 5294473 |