Insights on music rights as an emerging asset class, the changing economics of the industry, and how institutional capital is reshaping creator ownership from the accomplished songwriter and producer.
Thursday 26 February saw us welcome clients to our London office for the latest instalment in our fireside chat series, with songwriter, producer and founder of Rezonate Music Rights, Cam Blackwood, in conversation with Co-Founder & Managing Partner Claire Madden.
Best known for his work with artists including George Ezra, Florence + The Machine and London Grammar, Cam has spent much of his career inside the commercial mechanics of the global music industry. The discussion focused on how music rights are evolving into an institutional asset class, and why changes in industry economics are creating new opportunities for specialist investors.
Here are five takeaways from the session.
1. Music rights are moving firmly into private markets territory
Cam founded Rezonate Music Rights to bridge the gap between creators and institutional capital. The business partners with artists, songwriters and producers to acquire or invest in music rights, combining industry expertise with financial underwriting and data-led portfolio management.
Music copyrights can generate royalty income for decades, supported by legal protection that extends up to 70 years after an author’s death. That lengthy duration, combined with global and diversified revenue streams, is increasingly attracting private market investors looking for predictable cashflows.
Rather than focusing purely on outright acquisitions, Rezonate often structures partnerships that allow creators to retain alignment while accessing liquidity, reflecting a more flexible approach to ownership.
2. Streaming has reshaped where value sits in the industry
The move from physical sales to streaming has fundamentally altered music economics. Income that was once driven by album purchases is now fragmented across platforms, with value increasingly concentrated in ownership and scale.
This has helped drive institutional interest in established catalogues, but it has also left many smaller rights holders under-served. Producers and writers in particular often own partial interests that are operationally complex and inefficiently managed.
Rezonate’s strategy focuses on these areas, where improved data analysis, royalty collection and active management can enhance long-term returns.
3. Operational execution is the real differentiator
A key theme was that music rights investing is not a passive strategy. Early capital entering the space often treated catalogues as financial assets alone. Cam argued that value creation comes from operational work more familiar to private equity.
This includes identifying uncollected royalties, actively pursuing licensing opportunities and using technology to analyse performance data globally. Rezonate has built internal systems designed to aggregate and interpret royalty flows across multiple jurisdictions, allowing more informed underwriting and ongoing asset management.
4. Artists are increasingly seeking partners, not owners
Changes in distribution and audience discovery have shifted negotiating power towards creators. Many artists now build audiences independently and approach capital providers later in their careers.
As a result, financing structures are evolving. Rather than selling rights outright, creators are increasingly interested in partnership models that provide funding while preserving control and long-term upside. The dynamic mirrors broader trends across private markets, where founders favour aligned capital over full exits.
5. Technology will change workflows, but ownership remains key
The conversation also touched on artificial intelligence and its growing role in music production and analysis. While technology is improving efficiency, Cam’s view was that cultural relevance and audience connection remain driven by human creativity.
For investors, this reinforces the importance of ownership. As creation tools become more accessible, high-quality intellectual property and established catalogues may become even more valuable.
Keep an eye on our Events page for more exciting opportunities at Connection Capital.