Music secondary market? It does exist and is booming nowadays

Music has evolved significantly over the past several decades — from cassettes and CDs to MP3 players and, ultimately, to today’s streaming-driven ecosystem. Yet while consumption formats have changed, the long-term economic value of music catalogs has become an increasingly important and sophisticated asset class.

One area that recently stood out to me is the level of activity in the music M&A market, particularly around the acquisition of legacy song catalogs and publishing rights. What was once viewed primarily as cultural heritage is now being treated as a durable, cash-flow-generating investment category attracting institutional capital globally.

While reviewing transactions through Discoperi — specifically the Discoperi M&A Intelligence Engine, which aggregates and categorizes global M&A activity using AI-assisted analytics — several notable transactions from the past 60 months emerged:

• Sony Music Publishing and GIC acquired the complete music rights portfolio of Recognition Music Group for approximately US$4B (May 11, 2026)

• Warner Music Group and Bain Capital acquired the music catalog of Red Hot Chili Peppers for approximately US$300M (May 11, 2026)

• The Orchard acquired OniMusic’s Brazilian music catalog (May 1, 2026)

• Times Music acquired Catrack Entertainment Pvt. Ltd., focused on Punjabi music (April 30, 2026)

• Bella Figura Music acquired the publishing catalog of Paul Epworth (April 21, 2026)

• Primary Wave Music acquired the estate of The Notorious B.I.G. for approximately US$100M (March 20, 2026)

Taken collectively, these transactions illustrate a broader strategic trend: investors are increasingly viewing music IP as a resilient, monetizable asset supported by streaming economics, licensing demand, and global digital distribution.

The more interesting question, however, is not the acquisition activity itself — but rather how buyers intend to generate target returns at these valuation levels. That is likely where the next phase of the market narrative begins.