It's not so much ownership as custodianship. A bit like the Book people in Fahrenheit 451.

I like the idea really. But at the same time it's good to hear a song done differently. Titanic as a lament rather than a jolly singaround, All for me Grog as a bitter hungover slow drunk song.

I think it seems to work that "owned" songs are generally odd songs that might get left unsung, rather than general songs everyone knows. That way everyone is happy.