Music tech ownership ouroboros, 2025 edition

Music has emerged as private equity's recession-resistant darling, thanks to streaming's predictable revenue patterns and live entertainment's remarkable post-pandemic resilience.

The major labels are finally facing a crucial reality: Independent music's market share keeps climbing, and controlling the infrastructure behind it is becoming as vital as owning rights.

Universal Music Group's Virgin Music Group led this charge in 2024 — snapping up Downtown Music Holdings in a $775M power move (pending regulatory approval), as w... See more

Hellman & Friedman 's majority stake in Global Music Rights marks a watershed moment — private equity firms now control three major PROs (alongside New Mountain Capital's BMI and Blackstone's SESAC). Blackstone 's successful acquisition of Hipgnosis Songs Fund further cements institutional investors’ central role in the financialization of musi... See more