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I wrote about Snoop Dogg, who gets paid $500k per day by NBC Universal to have the time of his life at the Paris games.
1994 Snoop wouldn't believe the life of 2024 Snoop.
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Dan Runcie
14.5K posts
Dan Runcie
@RuncieDan
Founder of Trapital: where business shapes culture
San Francisco, CA Katılım Mart 2009
440 Takip Edilen33.2K Takipçiler
I’m almost certain BMG made a good return. ABBA Voyage seems to be a good balance of respect for the commerce. Let’s hope that continues
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Tina Turner's music rights have switched hands for the second time in five years.
2021: Turner sold catalog + NIL rights to BMG for $50M
2026: Pophouse bought majority stake from BMG
Pophouse launched the ABBA Voyage show in London. Let's see what they do with Turner's music.
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Spotify doesn’t share who these artists are, but we can make assumptions!
#2 is most certainly Bad Bunny, who had the most streams on Spotify in 2025.
#1 is Taylor Swift, who had slightly fewer streams than Bunny, but more streams from users who pay for Spotify, and where Spotify is priced higher.
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The top 80 artists on Spotify generated $10M+ each in royalty payouts in 2025.
I estimate that those 80 artists generated $2B total, nearly 1/5 of Spotify’s $11B royalty payout pool last year.
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@MarkHolum Agreed. IFPI list below. Very aligned, but K-pop and Japanese artists are much higher on IFPI.
Stray Kids (2), Mrs. Green Apple (13), Seventeen (14) likely not in Spotify top 80.
They're bigger on Tencent than Spotify. Plus those markets are huge for physical album sales.
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@RuncieDan It’s instructive to look at the IFPI list of biggest artists when thinking about about Spotify numbers. Obviously IFPI is all format… but it really highlights part of your discussion
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@MarkHolum @MartEnterprises There's a longstanding debate about whether Latin America is considered Western culture that I assume neither of us need to dissect on X for the merits of the initial post.
But I think you and I are aligned on who likely is/ isn't in the top 80!
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@MartEnterprises @RuncieDan "western" culture isn't the right term... since many of them are latin artists. Remember, there are more native speakers of spanish then native speakers of english.
It also includes a number of asian acts.
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🤔 Interested to see the full list of artists
Dan Runcie@RuncieDan
There are 80 artists whose catalogs generated $10M+ each on Spotify in 2025. Up from 40 in 2022.
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There are 80 artists whose catalogs generated $10M+ each on Spotify in 2025. Up from 40 in 2022.
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@imavip Space Age Love Song is still big, second biggest song for them. The band is far from a one-hit wonder, but I Ran is definitely THE hit.
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Space Age Love Song is really good and underappreciated but unless BMG has some Polymarket inside information buying the catalog of a band most consider a one-hit wonder seems dicey.
Flip side? If a BMG can corner the market in 80s era MTV nostalgia that would be something.
Dan Runcie@RuncieDan
BMG has acquired Flock of Seagulls' publishing catalog and sound recordings. Nearly 70% of the band's Spotify streams are from "I Ran (So Far Away)." Huge concentration in one song, but it's proven. Those early MTV era songs are valuable.
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BMG has acquired Flock of Seagulls' publishing catalog and sound recordings.
Nearly 70% of the band's Spotify streams are from "I Ran (So Far Away)." Huge concentration in one song, but it's proven. Those early MTV era songs are valuable.
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@cameron_do2022 True. Middleman comes with governance, debt, overhead, and other risks. Similar dynamic in real estate.
REITS are often at a discount to their underlying assets
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Investing in music catalogs is at an all-time high.
But the biggest music companies, who own more catalogs than anyone, are trading near their all-time lows on the stock market.
Here's why this is happening:
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@MarkHolum The majors use Bain Capital, Chord, and GIC's money for those deals.
PE firms get to own the music, benefit from their work, without owning their stock. Majors get management fees, carry, and can count it towards market share.
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@RuncieDan One interesting thing to note is that the majors have been acquiring music rights as of late… which doesn’t make sense if they trade at a discount to assets. They are costing their shareholders money.
Majors should be selling catalog
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@jeffreybvaughn True. I assume music is impacted more than other formats but I would have to compare.
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@RuncieDan All public businesses with exposure to AI risk are trading at lower values at the moment. Catalogs are expected to decay at a predictable level. Publicly traded companies are expected to grow at a predictable level. AI throws the latter into question.
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Music is more popular than ever as an asset class in private markets, but publicly-traded music companies are near their all-time low stock prices.
Quite the paradox.
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