Once upon a time — that is, up until a few months ago — price was no object when it came to music acquisitions. Bidding wars routinely erupted among Hipgnosis, Universal Music Group, BMG, Concord, Reservoir, and Sony Music Entertainment, with artists cashing checks worth hundreds of millions of dollars. Now, with interest rates hiking, Wall Street assets tanking, and a global energy crisis looming, enthusiasm for frothy music acquisitions is cooling.
Source: As Music Acquisition Cools Down, Rebeat Digital Steps In to Help