How Citrin Cooperman Can Help
Citrin Cooperman’s Music and Entertainment Valuation Services’ leadership in music asset valuations started 15 years ago when artists and songwriters began placing an opportunistic value on music catalogues for buy/sale transactions with newly organized music asset funds. Today, we see a new formation of film/TV participation funds seeking the same for participation rights controlled by talent. We are the most capable valuation providers to assess value for this emerging asset class.
Because of its deeply rooted relationships with nearly all market players, the Music and Entertainment Valuation Services Practice has an insider’s view of the changing strategic landscape affecting the film/TV industry, music publishers, and recorded music communities.
Our team possesses a unique knowledge of all the material drivers for music publishers and recorded master revenue flows, including performance, mechanical, and synchronization for publishing, and streaming, physical, and licensing for masters.
The Massarsky Group at Citrin Cooperman is formally accepted as a third-party valuation specialist for U.S. commercial lenders, including Truist, City National Bank/RBC, Pinnacle Bank, Regions Bank, Fifth Third, and First Horizon. In addition, private equity funds seek the group’s expertise for both the most current understanding of the music industry as well as performing their critical third-party valuation needs.
In the last twelve months alone, the team has conducted over $6.5B in unique music catalog valuations.
Valuation
Our rigorous, data-driven valuation approach is applied to a variety of characteristics inherent in different catalogs:
• Earnings lifecycle of songs, from release to peak to steady state
• Earnings lifecycles of music in films, from release to peak to steady state
• Earnings lifecycles of music in TV shows, through different distribution platforms
• Steady state growth rates by income type
• Value add from active exploitation of copyrights (i.e., territorial expansion, pro-active synch licensing, renegotiated agreements, monitored uses, registrations, etc.)
• Pipeline
• Futures
• Reversions
• Advances and guarantees
• Public Domain
• Discount rate
• Participation rights for film/tv, serving multiple purposes for our clients:
• Estate Planning
• Gift and Tax
• Buy/Sell Transactions
• Solve Liquidity Challenges
• Shift the Burden of Payment Collection
Valuation
Litigation
Associations and Collectives
• Recording Industry Association of America
• SoundExchange
• SESAC
• Society of Composers, Authors and Music Publishers of Canada
• National Music Publishers’ Association
• Phonographic Performance Company of Australia Limited
• Production Music Association
Industry Accolades
• The Hollywood Reporter "Power of Business Managers"
• Trusted Advisor "Future of Business Management"
• Billboard “Top Business Managers”
