While prices for royalties have come down, digital-music profits continue to grow as stable revenue draws investors.
The music-royalty business appears to be living up to its reputation as a provider of steady returns in good times and bad, as fortunes in song streaming continue to grow despite economic headwinds.
Two music-industry lawyers told MarketWatch that despite inflation and uncertainty in the financial world, they’re seeing more music-royalty transactions on the horizon as the music-streaming business continues to grow. In a year when many institutional investors have cut back on their investments in private-equity funds, money raised by standalone private-equity music-royalty funds has increased.
This is one key attribute that has attracted private capital into the space to compete with music companies. “We’re seeing a drop in purchase prices upwards of 30%, but there’s still demand,” Vaquerano said. “Not one day goes by without getting an artist or broker asking if an artist we represent is interested in selling their catalog. It’s a very fervent market.”
There’s no real formula that lawyers follow in the business, she said, because each deal is different, depending on the artist, their hits and their audience.
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