What did you find out about the state of catalog value and the acquisition market?

Yeah.

So I ended up doing that report basically because the market has been really blowing up [laughs] in the last several years.

I would say around, you know, 2021 onward, probably even earlier than that, we've just seen a huge number of, you know, massive catalog deals, a lot of new players, especially in like private equity, coming into the fold.

It's been big business for a number of reasons.

For one, you know, with the growth of streaming, you know, not only just in like big markets like the US, but now we're also seeing streaming grow in, uh, other global markets.

That's basically made music into a pretty secure asset or pretty reliable asset, 'cause now, you know, when you stream, it creates smaller but constant royalties, like constantly generating royalties versus like when you buy an album, it's purchased, it's done.

What data are they gonna look at in Luminate, and how are they gonna get what they need from Luminate for their own specific catalog?