The producer of Slipknot‘s 2008 album ‘All Hope Is Gone’ is auctioning off his share of royalties for the LP.
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Though not named explicitly (the auction only talks of a producer), the seller appears to be Dave Fortman, who produced both ‘All Hope Is Gone’ and ‘Simple Plan’.
Fortman is selling his shares in royalties for the albums, with a current high bid of $750,000 (£596k). It will grant the winning bidder a 30-year investment term. As the lot reveals, Fortman’s catalogue recouped $105,180 (£84k) in royalties in the last 12 months, coming from sales, streaming and sync fees.
‘All Hope Is Gone’ features one of Slipknot’s biggest hits, ‘Psychosocial’, has gone Platinum and went to Number One in the Billboard charts upon its release.
Extra information on the lot reveals that annual earnings for ‘All Hope Is Gone’ increased by 21 percent “year-over-year” in 2019, with 73 percent of all revenue coming from streaming.
“Sales and streaming, in particular, pay a greater share of revenue to sound recording royalties over composition royalties,” the auction posting states. “So this is an opportunity not to be missed.”
The new auction is the second chance fans have to purchase a part of Slipknot history this week – the band’s vocalist Corey Taylor is auctioning off a number of guitars for coronavirus relief.
The band released their most recent album ‘We Are Not Your Kind’ last year, which NME called “a primal scream of endlessly inventive extreme metal and searing misanthropy” in a five-star review.
Slipknot were also crowned Best Band In The World at the NME Awards 2020 in London earlier this year.