Commentary: The music industry just transformed forever
"The giants of the financial world are now really waking up to the modern music business’s true value – and they’re throwing billions at it", Music Business Worldwide writes announcing a major shift in music rights. New York-based investment management titan Apollo Global Management is investing up to $1 billion in HarbourView. Investment company Blackstone is about to launch a new joint entity with Hipgnosis, that will have a billion dollars or significantly more to spend on music copyrights. KKR (& Co Inc) – which already has an existing billion-dollar investment vehicle in music running with BMG – has a portfolio of assets under its management worth $234 billion.