What institutional capital looks for in music rights
27 Jan, 2026
Institutional investors are changing how music rights are evaluated.
In this episode of Music Moneyball, Brian Richards, Founder and Managing Partner of Artisan, joins us to explain what that shift looks like in practice, from pricing and capital structure to execution and exits.
Brian sits at the centre of the catalog market, advising funds, labels, and platforms on capital raising, portfolio sales, and complex financing. Drawing on that vantage point, he breaks down how expectations have evolved as the market has matured, why realised outcomes now matter more than narrative, and where differentiation still creates edge.
We also explore why headline multiples are misleading, how private credit has reshaped capital structures, and why secondaries are becoming a normal part of portfolio management rather than a red flag.
Brought to you by Standard Innovation.
01:11 – Raising capital in a maturing music market
03:12 – How institutional investors judge execution
06:14 – Deal flow, fragmentation, and market depth
09:13 – Differentiation in a crowded catalog market
16:35 – From “college to PhD”: institutional learning curves
18:41 – Capital structure, leverage, and private credit
27:51 – Why multiples don’t explain value
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► About Standard Innovation
Standard Innovation is the data consultancy that helps music investment funds unlock higher valuations and exit multiples through better infrastructure.
► Episode Links
Artisan: https://www.artisan1.com
Standard Innovation: https://standard-innovation.com
► Credits
Brian Richards — Founder and Managing Partner, Artisan
Theme: “Meet Me” — Outlines (Written by Sam Cox) — Courtesy of Bespoke Records
► Keywords
Music Moneyball, Standard Innovation, Brian Richards, Artisan, institutional capital, music rights investing, music catalog investing, music IP, music royalties, catalog valuation, fund structuring, private credit, music secondaries, portfolio optimisation, music investment strategy