SongVest Records, Inc.
May 2020 Update
Hello SongVest Records Investors, here is an update on our progress:
Critical to our go-forward success were the signing of partnership agreements related to how we are going to distribute the content (audio and video) from our artist roster effectively on a global scale, and to provide opportunities for our artists to have their music licensed for use in ads/television series/films, etc. We signed these agreements with Symphonic and SoStereo, respectively, as they share our entrepreneurial spirit and are strong believers in the opportunity with our model.
Recent Artist Signings
We signed LA-based rock/punk rock artist Kate Clover to our roster. We believe that she and her manager Ryan Menge (Rebel Union Entertainment) also share a very similar ethos and vision with our company, and after an advanced listen of her album "Bleed Your Heart Out" (to be released late summer, with singles preceding) and the opportunity to spend time with them in person, we were easily convinced she would make a great first signing.
We have a two pronged marketing strategy; one to promote our record company and then to promote each artist that we sign to our roster. For this second round of fundraising we've engaged a highly experienced industry specialist to assist with our social media marketing campaign. During May 2020 we'll select who we believe to be the most effective publicist to properly promote Kate Clover through the release of her album.
When Funds Will Be Distributed
We will distribute royalty sharing income twice per year, subsequent to any quarter in which we generate income.
Impact Of COVID-19 On The Business
Because we currently do not have an artist signed that already had a full tour scheduled for 2020 to support an album already released, there is not an immediate impact on our revenue. However, if any artists on our roster are unable to tour subsequent to a future release to help promote that release, then there may certainly be an impact on our revenue. COVID-19 has had a very material impact on the entire music industry and there is great uncertainty as to, for example, live music venues that may remain open and artists ability to tour and sell merchandise at those venues that serve all aspects of their career.
New Raise On The Platform
We've just launched the second round of our Regulation CF crowdfunding raise, which is currently scheduled to run through June 26, 2020. We had a successful first round (closed January 2020) where we exceeded our minimum target, and we're hopeful to have similar success in this round.
SongVest Records will generate revenue with each release from its artist roster. At this time, our best estimate is that our first round of income will be generated in the 4th quarter of 2020 (based upon a Q3 release, payable to SongVest Records in Q4).
Our most material expenses will be incurred to properly market and promote the artists on our roster. At this time, we have no fixed overhead or salary expense. We intend to remain conserative in our spending, with our priority being investing in our artists and technology.
SongVest Records Is Now Offering Investment Perks!
We appreciate any and all investors! We want to show that appreciation by giving perks to those who invest certain amounts or more.