Abstract
This thesis engages in an examination of how music catalogs are being assetized in contemporary capitalism. It seeks to identify the ways in which music catalogs are being perceived as an asset in the music market of the western world. The paper draws on inspiration from Kean Birch (2017; 2020) and Kean Birch and Fabian Muniesa (2020) that positions the asset form in the center of modern day capitalism and conceptualizes how intellectual property is increasingly being traded as an asset. The paper seeks to connect this concept of assetization of IP to the music industry in an attempt to further scrutinize the increase in music catalog acquisitions from 2018-2023.
Through a qualitative and explorative research design, various experts and actors of the music industry were interviewed to build the foundation of data for the research. This data was then analyzed in an interpretive framework guided by relevant literature.
The analysis starts off with an examination of how the music industry has moved from having tangibles (sheet music to vinyl to CD) as its axis to now being all about the control and ownership of intangibles (copyrights). It then proceeds to map out the various actors involved in shifting the perception of music catalogs to that of an asset: the music companies, the investment funds, the intermediaries, and the rights holders looking to sell. Thereafter, the paper finds a few reasons in an attempt to explain the impact of technoscientific development to the assetization of music catalogs. Amongst these, an extended possibility for exploitation of music IP and the lifecycle of songs being prolonged, are key findings. Last, an important finding concerning the value of music assets are analyzed. Put briefly, the paper argues that the increase in assetization is predicated by the valuing of music catalogs and vice versa. The two elements, assetization and value, impact each other and by delving into different valuation methods alongside the uncertainty, and risk tied to investments in music catalogs, the analysis is completed.
This paper finds that the way music catalogs are being traded today, the perception of music catalogs as assets is well and truly alive. Music catalogs are assetized in a manner never seen before. It is being dealt with and thought about in future revenue terms constantly. More and more actors in and around the music industry are seeking to capitalize on the specific quality of the music asset. The music industry is indeed in a time of change as the assetization of music catalogs gains a foothold stronger than ever before.
Educations | MSocSc in Management of Creative Business Processes , (Graduate Programme) Final Thesis |
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Language | English |
Publication date | 15 May 2023 |
Number of pages | 141 |
Supervisors | Alexander Dobeson & Macon Holt |