Jukebox, the Music Catalog Investing Platform for Fans, Gets a New CEO

Jukebox, a music platform where retail investors can buy royalty shares linked to songs like Adele’s “Rumour Has It” or Taylor Swift’s “Welcome to New York”, has appointed Mike Coppola to be its new CEO and board member, the company announced Wednesday (Feb. 26).

Coppola, previously a senior adviser at the fintech growth fund WestCap who was an executive at TouchTunes when it was acquired by Searchlight Capital, assumed the CEO role in January. He succeeds Scott Cohen, former chief innovation officer at Warner Music Group and co-founder of The Orchard, who has led Jukebox since its launch in 2022.

Previously referred to as JKBX, Jukebox says it’s entering a pivotal new phase aimed at growing its investor base through partnerships with popular retail brokerages, and Coppola’s background and network is key to developing the company’s market presence and recruiting talent.

“Mike’s proven track record as an operator, driving growth, fostering innovation, and scaling companies across finance and technology makes him the ideal leader for Jukebox’s next chapter,” Sam Hendel, Jukebox’s co-founder/chairman, said in a statement. “Together, we are pioneering an SEC-qualified offering to take music public, unlocking investment opportunities for both institutional and retail investors. Mike is a crucial component in bringing this vision to life, and I couldn’t ask for a better partner leading this charge.”

Founded on the idea that investing in iconic music catalogs should not be exclusively available to record labels, private equity funds and institutional investors, Jukebox launched its first investment offering last year — a Tier 2 Regulation A offering approved by the U.S. Securities and Exchange Commission.

Visitors to Jukebox’s website can buy royalty shares in songs like Beyoncé’s “Halo,” Ellie Goulding’s “Burn” and “Lean On,” performed by Major Lazer, MØ and DJ Snake — and, as of this year, they can earn dividends when those songs are played. Through founders Hendel and John Chapman, whose Dundee Partners owns a controlling stake in the catalog investment company Chord, Jukebox has exclusive access to Chord’s 60,000 music copyrights that could be packaged into future offerings.

For now, Coppola tells Billboard they’re focused on growing Jukebox’s market presence and that it’s currently in a pilot phase with one major investment platform. Notably, retail brokerages such as Robinhood, Charles Schwab and Fidelity are expanding their list of alternative investment offerings beyond cryptocurrency to reach eager young investors.

In addition to reaching more investors through inclusion on those investment platforms, Coppola says the company is working through several regulatory steps to develop a secondary marketplace for Jukebox royalty shares.

“It took Jukebox a year and a half to get SEC approval, and the founders here spared no expense … to make sure they could get that done and they did,” says Coppola. “The next thing we have to build is the ability for these securities to be tradable anywhere, and not just on our website.”