Music Moneyball

Cynthia Katz has a front-row seat to a huge volume of catalog deals. In this episode, we ask her what the smartest buyers are doing differently, and where the market goes next.We get into the shift to institutional-grade diligence, why assets are now being underwritten with the next transaction in mind, and how data, structure and operational capability are separating the platforms that can scale from those that can’t.We also look at the next wave of growth as capital moves beyond the Western markets into more complex cross-border opportunities. What actually changes when you do deals in new territories, where buyers get caught out, and why execution on the ground is now a core part of the investment case.► Stay up to dateNewsletter: ⁠⁠⁠⁠⁠https://standard-innovation.com/subscribe/music-moneyball⁠⁠⁠⁠⁠LinkedIn: ⁠⁠⁠⁠⁠https://www.linkedin.com/company/standard-innovation-ltd⁠⁠⁠⁠⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksFox Rothschild: https://www.foxrothschild.com► CreditsGuest: Cynthia Katz, Partner, Fox RothschildHosts: Tom Mullen, Sam Morey, Emma GriffithsTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

There’s a lot of noise around data in music rights. Very little of it helps you decide what to do on a Monday morning.We recently introduced the Catalog Maturity Curve to benchmark what “good” looks like for music funds. In this Fastball we take the first driver of maturity, Data & Infrastructure, and make it practical.This is where most teams start to feel the strain. More catalogs, more statements, more investor questions. The challenge is knowing what to prioritise. What is essential, what is strategic, and what is just more work?We walk through a simple approach: establish the baseline, focus on the capabilities that move the needle, and turn that into a plan you can actually deliver.As the market matures, this is becoming a real point of differentiation.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠⁠https://standard-innovation.com/subscribe/music-moneyball⁠⁠LinkedIn: ⁠⁠https://www.linkedin.com/company/standard-innovation-ltd⁠⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksStandard Innovation: ⁠⁠https://standard-innovation.com⁠⁠► CreditsHosts: Emma Griffiths, Tom MullenTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

What happens when institutional capital meets creative execution?In this episode of Music Moneyball, we’re joined by Evan Bogart, Founder and CEO of Seeker Music, and Ciaran Mulligan, CIO at M&G Life, to explore how their partnership bridges two worlds to build a modern music investment platform.Evan and Ciaran share how Seeker combines frontline creative strategy with institutional investment discipline, underwriting stable catalog cash flows while layering creative upside on top. We discuss Seeker’s acquisition philosophy, why strategy comes before modeling, and how an active approach to catalog management can change an asset’s trajectory. The conversation also covers operational rigor, in-house administration, and what it takes to translate between finance and music as the asset class continues to mature.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠⁠⁠⁠https://standard-innovation.com/subscribe/music-moneyball⁠⁠⁠⁠LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/standard-innovation-ltd⁠⁠⁠⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksSeeker Music: ⁠https://www.seekermusic.comM&G: ⁠⁠⁠⁠https://www.mandg.com► CreditsGuests: Evan Bogart, Founder and CEO of Seeker Music, and Ciaran Mulligan, CIO at M&G LifeHosts: Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

Music catalog valuation lives or dies on data quality.In this episode of Music Fastball, we’re joined by valuation expert Alaister Moughan, who talks through the messy reality of music royalty data and why headline revenue numbers can be misleading when valuing catalogs.We also dig into what happens after the deal. As institutional standards rise, funds are being judged not just on valuation at acquisition, but on how assets perform in day-to-day operations. We discuss why the handoff between valuation and operations often breaks down, and why closing that gap matters for accountability, reporting, and understanding performance over the life of a fund.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠⁠⁠https://standard-innovation.com/subscribe/music-moneyball⁠⁠⁠LinkedIn: ⁠⁠⁠https://www.linkedin.com/company/standard-innovation-ltd⁠⁠⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksMoghan Music: https://www.moghanmusic.comStandard Innovation: ⁠⁠⁠https://standard-innovation.com⁠⁠⁠► CreditsGuest: Alaister Moughan — Founder, Moghan MusicHosts: Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

Institutional investors are changing how music rights are evaluated.In this episode of Music Moneyball, Brian Richards, Founder and Managing Partner of Artisan, joins us to explain what that shift looks like in practice, from pricing and capital structure to execution and exits.Brian sits at the centre of the catalog market, advising funds, labels, and platforms on capital raising, portfolio sales, and complex financing. Drawing on that vantage point, he breaks down how expectations have evolved as the market has matured, why realised outcomes now matter more than narrative, and where differentiation still creates edge.We also explore why headline multiples are misleading, how private credit has reshaped capital structures, and why secondaries are becoming a normal part of portfolio management rather than a red flag.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠⁠https://standard-innovation.com/subscribe/music-moneyball⁠⁠LinkedIn: ⁠⁠https://www.linkedin.com/company/standard-innovation-ltd⁠⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksArtisan: https://www.artisan1.comStandard Innovation: ⁠⁠https://standard-innovation.com⁠⁠► CreditsGuest: Brian Richards — Founder and Managing Partner, ArtisanHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

The bar has moved in music rights investing.As institutional capital continues to scale into the asset class, funds are being judged less on what they buy and more on how portfolios are run. Operating maturity is no longer a nice-to-have. It’s being priced into outcomes.In our first Music Fastball episode, we introduce the Catalog Maturity Curve — a new operating benchmark for music investment funds. We explore how leading asset classes define operating maturity, why it now matters for music rights investors, and how maturity shows up in underwriting confidence, reporting, diligence, and exits.Benchmark your fund with our quick assessment: https://standard-innovation.com/assessments/data-maturity-assessmentBrought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠https://standard-innovation.com/subscribe/music-moneyball⁠LinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksStandard Innovation: ⁠https://standard-innovation.com⁠► CreditsHosts: Emma Griffiths, Tom Mullen,Theme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

What separates enduring music rights companies from the rest? In this episode of Music Moneyball, we’re joined by Golnar Khosrowshahi, Founder and CEO of Reservoir, to explore how a disciplined, data-led approach has shaped one of the most respected independent music companies in the world.Golnar reflects on the deals that shaped Reservoir’s evolution, from TVT to Tommy Boy, and how they reinforced a long-term, music-first investment philosophy. We discuss how Reservoir evaluates music at the song level, prices risk realistically, and creates value through operational execution. The conversation also looks at Reservoir’s growing presence in emerging markets, where local partnerships position the business for the next wave of global music growth.Brought to you by Standard Innovation. ► Stay up to dateNewsletter: https://standard-innovation.com/subscribe/music-moneyballLinkedIn: https://www.linkedin.com/company/standard-innovation-ltd/► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksReservoir: https://www.reservoir-media.comStandard Innovation: https://standard-innovation.com► CreditsGolnar Khosrowshahi  — CEO and Founder, ReservoirTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

How do you take an artist whose prime was nearly a century ago and make them feel culturally relevant today? In this festive Music Moneyball special, Adam Lowenberg (CMO, Primary Wave) breaks down the playbook for reactivating legacy catalogs, using Bing Crosby as the case study.We cover how Primary Wave builds multi-year marketing plans with estates, turns sexasonal spikes into long-term growth, and executes across digital, brand partnerships, sync, and global markets — balancing commercial ambition with artist integrity.Brought to you by Standard Innovation.► Stay up to dateNewsletter: https://standard-innovation.com/subscribe/music-moneyballLinkedIn: https://www.linkedin.com/company/standard-innovation-ltd► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksPrimary Wave: https://primarywave.comStandard Innovation: https://standard-innovation.com► CreditsGuest: Adam Lowenberg — Chief Marketing Officer, Primary WaveHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

The music industry is standing at a crossroads where AI will either become the biggest new revenue stream in its history or trigger the largest transfer of value away from rights holders and into AI platforms. In this episode, we sit down with entrepreneur and technologist Benji Rogers (Sureel AI, Lark42) to unpack what that means for music investors and catalog buyers. Benji argues that most funds are still pricing catalogs off 10–18x past revenues as if the next decade will look like the last, without modelling how AI will change what gets played, synced and surfaced by pushing the cheapest viable audio over premium IP.We explore how attribution and licensing design could turn AI from an opaque threat into a metered, recurring revenue stream, and why unreleased, un-scraped and more novel recordings may soon become some of the most mispriced assets in the market. At stake is whether music investors capture the upside of this shift — or accidentally finance the next major wealth transfer out of the music ecosystem.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠https://standard-innovation.com/subscribe/music-moneyball⁠LinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksSureel AI: https://www.sureel.aiLark42: https://www.lark42.comStandard Innovation: https://standard-innovation.com► CreditsGuest: Benji Rogers — Co-President, Sureel AI; Partner, Lark42Hosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

The smarter money in music is quietly moving into the overlooked layers of the market, where only a few operators have the infrastructure to compete. In this episode, we sit down with Tom Tyler, CEO and co-founder of Rezonate Music Rights, to unpack how he and co-founder and hit producer Cam Blackwood are building one of the most differentiated platforms in the space.Drawing on Tom’s two decades in capital markets and Cam’s studio track record, we dig into Rezonate’s core thesis: producer and mixer royalties that are credible, cash flowing and meaningful in scale, yet historically underserved because they are operationally hard to underwrite. Tom walks through how they combine transparent liquidity for producers with a purpose-built valuation and data stack, and how their partnership with Bridgepoint is structured to scale capital while keeping culture at the centre of value creation.Brought to you by Standard Innovation.► Stay up to dateNewsletter: https://standard-innovation.com/subscribe/music-moneyballLinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music funds unlock higher valuations and exit multiples through better infrastructure.► Episode LinksRezonate Music Rights: https://rezonatemusicrights.comStandard Innovation: https://standard-innovation.com► CreditsGuest: Tom Tyler — CEO & Co-founder, Rezonate Music RightsHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

The next wave of returns in music won’t come from buying bigger catalogs, but from buying smarter. In this episode, we sit down with Michael Poster, Partner and Chair of Music Acquisitions & Financing at Michelman & Robinson, to unpack how the market has broadened and matured, why “alternative” strategies aren’t alternative anymore, and how smart buyers are quietly creating value through structure, aggregation, and data-led uplift.From sub-$10m deals to billion-dollar portfolios, Michael’s seen the full cycle: raising capital, rolling up catalogs, exiting to large asset managers, and now architecting the secondary sales that define the next phase of music as an asset class.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠https://standard-innovation.com/subscribe/music-moneyball⁠LinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode linksMichelman & Robinson: ⁠https://www.mrllp.comStandard Innovation: ⁠https://standard-innovation.com► CreditsGuest: Michael Poster — Partner and Chair of Music Acquisitions & Financing at Michelman & RobinsonHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

At Music Moneyball, we believe value doesn’t come from just owning a catalog—it comes from how well you run it. In Episode 2, we sit down with Henry Marsden (Founder, Fix Music) to unpack why operational discipline and clean data are the real edge in music rights. Henry’s seen this from every angle—touring as a musician with Elton John, building and selling an indie publisher, managing iconic catalogs, and now helping funds and rights owners unlock yield through better data operations.Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠https://standard-innovation.com/subscribe/music-moneyball⁠LinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode linksFix Music: https://www.fixmusic.ai/Standard Innovation: https://standard-innovation.com/► CreditsGuest: Henry Marsden — Founder, Fix MusicHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records

Is catalog value about owning the biggest hits, or knowing how to operate the rights you buy? Sachin Saggar (RedBrick Advisors) joins Emma Griffiths, Tom Mullen, and Sam Morey (Standard Innovation) to break down how the smartest buyers value music catalogs today—what drives premiums, where hidden basis points live, and why better data and infrastructure are the edge. Plus: AI’s real impact and the pitfalls investors still underestimate. Brought to you by Standard Innovation.► Stay up to dateNewsletter: ⁠https://standard-innovation.com/subscribe/music-moneyball⁠LinkedIn: ⁠https://www.linkedin.com/company/standard-innovation-ltd⁠► About Standard InnovationStandard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.► Episode linksRedBrick Advisors: https://redbrick-advisors.comStandard Innovation: https://standard-innovation.com► CreditsGuest: Sachin Saggar — Co-Founder, RedBrick AdvisorsHosts: Emma Griffiths, Tom Mullen, Sam MoreyTheme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records