Financialization of music: song management firms and fractionalized copyright

This paper examines the growing interest of financial markets in investing in music rights, arguing that this is a manifestation of the financialization of music. While music rights have been traded for a long time, the vast majority of these transactions have been between entities within the music industry. However, in recent years, we have observed the entrance of pension funds, banks, and private equity firms into the music rights market. This study explores the causes and consequences of the emergence of new players in the music rights market, particularly entities such as song management firms and fractionalized copyright trading marketplaces. Through the examples of Hipgnosis and ANote Music, the paper illustrates the operations of such entities and considers the potential consequences of their activities for artists and culture.