September 6 2009 - 10:17 am

A Taste of Music Publishing

If you want to get an idea of what music publishing is like--and how it is not like the recording industry--read this NYT article that profiles Martin Bandier, chief executive of music publisher Sony/ATV. The article's accompanying photo may be all you need to see. And this: So it’s come to pass that after decades of playing second fiddle to the much bigger and brighter stars in the industry’s recording business, music publishing is on a roll. It is, as its executives like to say, a business of pennies and nickels, but that small change generates $3 billion in annual revenue, throws off enviably predictable streams of cash and has caught the eye of private equity firms and large institutional investors who are snapping up catalogs of stars like Frank Sinatra and Madonna.

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