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Queensryche offer investors a cut of profits

Queensryche are giving fans a chance to share in profits the band generates through record sales and merchandise deals.

For a minimum of $50,000, investors can buy an ownership stake from a private holding company that will entitle them to a fixed percentage of any revenue generated by the band.

Attorney Marc LoPresti helped the group set up the limited liability company (LLC) and he says this could just be the start of similar projects.

He tells the Seattle Times: “We think it’s a first. If it’s successful, which we expect it to be, we may do it again with other bands.”

LoPresti reckons the stock sale could replace a label’s usual role in financing tours and album recording sessions – and would mean more money for the band and investors as the label wouldn’t be taking such a big slice of the profits.

He continues: “By disintermediating the labels, we’re leaving more money on the table both for the band and people who invest.”

Drummer Scott Rockenfield tells the National Rock Review: “We thought it was a great idea and as far as we know it’s never been done in the music industry.

“It was a way for us to open up what Queensryche is and have people come in that are interested to own a part of what we do.”

The move comes on the back of the band’s PledgeMusic campaign. They’re currently offering fans who pre-order their new album unique items and opportunities, including a range of clothing, instruments and the chance to personally attend the recording sessions in the studio.

The band and former frontman Geoff Tate reached a legal settlement earlier this year that means Tate can no longer use the Queensryche name. Both sides of the acrimonious split said they were relieved to have reached an agreement.

Scott looks after and updates Louder’s online buyer’s guides and also scouts out the best deals for music fans from every corner of the internet. He's spent more than 28 years in newspapers and magazines as an editor, production editor, sub-editor, designer, writer and reviewer. Scott joined our news desk in the summer of 2014, where he wrote extensively about rock, metal, prog and more, before moving to the eCommerce team full-time in 2020. Scott has previous written for publications including IGN, Sunday Mirror, Daily Record and The Herald covering everything from daily news and weekly features, to video games, travel and whisky.