Music News: Cage the Elephant latest band to sell future royalties


Cage the Elephant
Matthew Schultz and Brad Schultz of Cage the Elephant at The Current in 2016. (MPR / Leah Garaas)

Cage the Elephant have become the latest band to sell a portion of their future royalties to raise capital for future projects. They're using a company called Royalty Exchange, which aims to allow music creators to essentially go public: investors can buy a share of future royalties on songwriting and recording, paying the artists money that can be used to finance future recordings, tours, and other projects.

"Cage the Elephant is a band in their prime with a long career still ahead of them," said the band's manager in a statement. "Financially empowering artists is the key to creative control, which is the most important factor to achieving true longevity."

The band are selling a portion of their future royalties to a private group of over 40 individual and institutional investors. If you want to pay those investors a tiny fraction of a cent right now, you can press play on the video below. (Billboard)

Demi Lovato hospitalized

Pop star Demi Lovato has reportedly been hospitalized and was in "stable" condition on Tuesday in the wake of a suspected overdose. Her family have issued a statement saying, "Demi is awake and with her family who want to express thanks to everyone for the love, prayers and support. Some of the information being reported is incorrect and they respectfully ask for privacy."

Lovato has been very open about her past struggles with addiction and mental health issues, and a recent song called "Sober" has lyrics coming from the perspective of an addict who suffers a relapse. "I'm sorry for the fans I lost/ Who watched me fall again/ I wanna be a role model/ But I'm only human." (Rolling Stone)

Brian Wilson and Mike Love to reunite — but not for music

On-again, off-again Beach Boys bandmates Brian Wilson and Mike Love — are reuniting, but not to make music. They'll both participate in a Q&A moderated by director Rob Reiner, recorded at the Capitol Records Tower in Los Angeles for Aug. 10 broadcast on the band's own SiriusXM channel.

Fellow founding Beach Boys Al Jardine and David Marks will also participate, along with longtime member Bruce Johnston. It will mark that lineup's first shared public appearance since their reunion tour ended in 2012. (Rolling Stone)

Former MTV VJ missing

Former MTV VJ Jesse Camp is missing, and is "possibly transient," say authorities in Riverside, California. Camp's sister reported him missing next week, and at this point authorities say they don't suspect foul play. Camp rose to fame after winning MTV's Want to be a VJ contest in 1998. (Billboard)

Oh Yoko!

Yoko Ono has announced a new album of "reimagined" versions of songs originally released from 1970 to 2009. "I like to create things in a new way," says the 85-year-old icon. "Every day things change."

One of songs on Warzone (Oct. 19) will be the song "Imagine," for which Ono was just awarded a co-writing credit with her late husband and collaborator John Lennon. She's released her new version of the album's title track, which was originally released in 1996. (Pitchfork)

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