Thoughts.


A selection of our observations on industry trends.

Andrew Kotliar Andrew Kotliar

Spotify and forced flashbacks of payola

Since the 1930’s, the music industry has battled payola, or the illegal practice of “pay-for-play” between record labels and radio stations, designed to influence airplay…

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Andrew Kotliar Andrew Kotliar

What would you pay

A thought exercise: what’s the most you would pay for an asset with the following unique characteristics…

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Andrew Kotliar Andrew Kotliar

Are Music Royalties Actually Uncorrelated?

Over the past couple of years, an unprecedented amount of institutional investor capital has poured into the acquisition of music royalty assets. From private equity firms…

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Andrew Kotliar Andrew Kotliar

Take this for subscription fatigue

The current buzzword du jour in the media industry is “subscription fatigue”. Accelerating over the past year, but undoubtedly culminating with Apple’s headstrong push into…

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Andrew Kotliar Andrew Kotliar

Pod Saves the Margin

The media industry kicked off 2019 with a flurry of transformational developments and headlines. While the digital publishing space remained in pain, with major layoffs…

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Andrew Kotliar Andrew Kotliar

Everybody, go berzerk, get your vinyls!

“Well, CD sales are down, but surprisingly, vinyl is doing really well.” That’s a sentiment we’ve heard time and time again from record labels recently, but at this point, can you…

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