Fans now have a chance to co-own Prince's 1978 debut single, "Soft and Wet," if they have $500,000 to spare.
The iconic singer's former collaborator, Chris Moon, has put up a listing for the songwriter credit for the track on eBay.
Co-Own A Prince Song With Prince
"My name is Chris Moon, and I discovered Prince during the mid '70's in Minneapolis at my recording studio named MoonSound," the songwriter's ad reads. "[R]esearch me and you will see that not only did I discover the then 16 year old recording artist but I also co-wrote 3 of the 4 songs on his original demo tape that got him signed to Warner Brothers Records plus I co-wrote his first hit song named 'SOFT & WET.'"
Moon explained that, while he penned the lyrics to the hit song, Prince was responsible for the music. Over the years, he and the music icon has been sharing royalties from the song.
"I have owned 'SOFT & WET' since I wrote it, I have enjoyed hearing the song countless times over the years, been paid well and am proud of it," he added. "I would now like to see someone else enjoy owning it, it has achieved everything and more for me so I feel it is time to pass the torch to a Prince fan who will continue to cherish and enjoy owning it as much as I have."
The lucky buyer will receive Moon's rights and ownership of the song. The transaction will also include a copy of the original contract he signed with the "Purple Rain" singer, a digital copy of the original version of the song and album, and the version from MC Hammer.
"Soft and Wet" can be purchased for $490,000 but Moon is also accepting bids.
Business Of Selling Song Credits
Star Tribune explains that the sale of rights to a song is not something new, but regularly occurs within the music industry.
A person who acquires the rights of a song received a percentage of revenue from traditional album sales and digital streams, radio play, and usage in television or movies.
However, the publication warns that the purchase of the rights to "Song and Wet" might not be such a great idea if the buyer is expecting to profit from it. It was not even one of Prince's most beloved tracks and his debut album, the one that carries the track, was not his most successful in terms of numbers of copies sold. In addition, royalty rates have declined over the years because of digital streaming.
Moon believes that the track anyone looking at his listing is not interested in collecting massive profit. Perhaps, the honor of co-owning a song with and by Prince is easily worth $500,000.
The songwriter also owns the rights to "Make It Through the Storm" and "My Love Is Forever." Prince passed away in 2016.
