1. Alvine Capital Podcasts: Exploring Music Royalties

Alvine Capital Podcast

In this special Alvine Capital podcast we aim to demystify some of the lesser well known alternative strategies in the world of investment. Music is all around us - deeply embedded in our culture, our traditions, our first dance, that jingle that we hear on that ad, the memories of that summer. Today we are going to get a little deeper into the business of music royalties. Our guests today are: Neil Gillis – President • President of Round Hill since 2010 • Years of Experience in Music Industry: 37 • Previous Experience: Alfred Music Publishing; S1 Songs America; Dimensional Music Publishing; Warner/Chappell Music; BMI • Education: Hofstra University, BA Barry Massarsky – Founder and President of Massarsky Consulting. Mr. Massarsky's expertise includes music royalty valuation, strategic and analytic counsel for collective rights and trade associations, expert witness litigation in copyright infringement cases, and the music production library marketplace. We start out with a basic question: what are music royalties? We then discuss two genres in particular - Country and American Standard - and talk about their different characteristics. We ask why an artist would sell a catalogue today and whether it is a good time to purchase one. Portfolio construction and cash flow characteristics are important in this area and we ask what a diversified portfolio looks like - by vintage, genre, streaming v. other characteristics). Barry answers the question as to how he values a catalogue and how accurate this has tended to be. We finish with discussing the exit strategy and the characteristics of the return stream from music royalties as an investment. One of the joys of this podcast is the fact that it features so many music excerpts from the catalogue owned by Roundhill Music. There is more information about Alvine Capital, Roundhill Music and Massarksy Consulting on the following websites: This podcast is for informational purposes only and should not be construed as investment advice. All views are personal.