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Recode Daily

Hedge funds bet big on classic rock

Recode Daily

Recode

Science, Technology, Society & Culture

4.61.3K Ratings

🗓️ 22 March 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

The sale of music catalogs has become big business for legacy artists. Why has this huge investment taken off so recently, and why isn’t hip-hop getting in on the action? Financial Times US media correspondent Anna Nicolaou (@annaknicolaou) explains. Read Anna’s story: https://www.ft.com/content/c31fa721-676d-480a-8c1d-bb26b7ec809c Today’s episode was produced and engineered by Jon Ehrens, and hosted by Rani Molla. Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Mailchimp would like to talk to you about customers.

0:03.6

A customer is what happens when marketers fail to personalise their marketing,

0:07.7

grouping customers with very different behaviours into one tangled mess.

0:11.8

But with MailChimp, marketers can use real-time behaviour data to personalise every email for every customer.

0:18.2

So get MailChimp and turn your customers into customers.

0:22.4

Into it MailChimp, the number one email marketing and automation brand.

0:26.7

Based on customer numbers, per verification email, advertising at MailChimp.com.

0:34.0

It's Rico Daley. I'm Ronnie Mola.

0:37.5

All of the biggest names in Classic Rock are doing it.

0:45.7

Getting mega rich.

0:49.2

Yet again.

0:51.0

On their long list of these bonafide hits that have long swirled around in the cultural zeitgeist.

1:03.6

These artists have also their entire catalogue of music.

1:06.4

Every song they've ever written and recorded for hundreds of millions of dollars,

1:10.9

essentially caching out on their careers.

1:13.9

It seems like a good idea for them, but who exactly is behind these huge payments?

1:21.0

And why are they shelling out these massive sums of money now?

1:24.0

I've been covering music for about five or six years.

1:27.7

So I ask everyone like has this ever happened before and everyone says no.

1:33.6

That's Anna Nicolau, who writes about music and media for the financial times.

1:38.0

Just in the past year or two, there's been this kind of massive transformation in music industry.

1:44.5

Historically, the owners of music copyrights would be

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