Research & Analysis.
Articles
Technical analysis and insights on music catalog valuation, royalty data, and the institutional music rights market.
Chapter Two Partners with Shot Tower Capital and RedBrick Advisors to Launch Baltazar
Chapter Two launches Baltazar, a new institutional platform for music royalty analytics and copyright valuation, in strategic partnership with Shot Tower Capital and RedBrick Advisors.
Music Catalog Due Diligence: A Pre-Valuation Checklist
A practical checklist for music catalog acquisitions. What to verify across agreements, statement data, valuation inputs, and rights structure before any modeling work begins.
What Is Dollar Age? Measuring Earnings Stability in Music Catalogs
A guide to Dollar Age in music catalog valuation. How to calculate it, what the risk tiers mean, what it does not tell you, and how to use it at the portfolio level.
Music Catalog Discount Rate: Building the CAPM for Royalty Assets
How to build a music catalog discount rate from its components using CAPM, covering the risk-free rate, beta, equity risk premium, and music-specific adjustments.
Terminal Growth Rate in Music Catalog DCF: Setting the Right Assumption
How to set the terminal growth rate in a music catalog DCF model: why inflation is the right anchor, when to deviate, and how the r-g spread drives terminal value.
How to Build a Music Catalog Earnings Baseline for DCF Valuation
Most music catalog DCF models go wrong at step one. Here’s how to build a music catalog earnings baseline that won’t mislead the rest of your valuation.
Music Royalty Decay Curves: How Catalog Earnings Decline Over Time
How music royalty decay curves work, why they differ by sales type, and how to model catalog earnings decline accurately in a DCF valuation.
Music Catalog Valuation: A DCF Guide for Institutional Investors
How institutional investors value music catalogs using DCF analysis — covering the four key inputs: earnings baseline, decay curve, discount rate, and terminal growth rate.
Source Concentration Risk in Music Royalty Portfolios: How to Measure It
A technical guide to measuring source concentration risk in music royalty catalogs -- covering the HHI framework, source classification, volatility-weighted analysis, and data requirements.
Who Buys Music Catalogs -- and Why the Buyer Mix Has Changed
A guide to the institutions acquiring music catalogs today: major labels, private equity, specialist funds, pension funds and ABS markets. How each values catalogs differently -- and what that means for pricing.
Chapter Two Leverages New Tech to Facilitate Millions in Transactions for Latest Catalog Deals
The $6m deals are the latest in a string of million-dollar transactions for the music technology company Chapter Two.