Private equity firms have poured billions of dollars into music, believing it to be a source of growing and reliable income. Investors spent $12 billion on music rights in just 2021 — more than in the entire decade before the pandemic.

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 music... See more