David Bowie, a musical and cultural icon known for pushing boundaries, passed away on January 10, 2016. Did you know that he also pushed the boundaries on monetizing Intellectual Property? In 1997, Bowie was looking for a new revenue stream. With the help of investment banker, David Pullman, Bowie issued asset-based securities for current and future revenues from 25 of his albums recorded before 1990. And thus the term ‘Bowie Bonds” came into being. Bowie used some of the money he raised to buy back songs from his former manager. Although revenue from the bonds suffered some bumps in the road acclimatizing to digital downloads, Bowie Bonds are still considered a success. So successful that other famous musicians, such as James Brown and Iron Maiden, also used the Bowie Bond model to raise revenue.
WHY YOU SHOULD KNOW THIS. David Bowie’s career was a study in breaking the mold. He taught us not to be relegated to accepting the familiar path as the only path. When we free our minds, we can change our thinking. And sometimes when we change our thinking, we can create new and successful methods for achieving our goals. Thank you David and rest in peace. We’ll miss you.