During the early COVID shutdown, music royalties surged as live events stalled UNC and catalog sales accelerated. Josh Love of Reed Smith dotyczą has advised on some of the biggestoplastic deals, having negotiated and closed more than $4 billion in music assets. Among neck‑and‑neck transactions are The Weeknd’s $1 billion joint venture'ime with Lyric Capital, announced late 2025, and the Concord/BMG merger, slated to close in Q4 2026. Love also represented CVC Capital Partners in its majority investment in Distro Kid.

The market remains highly active, with leader now partnering with financial sponsors to launch joint ventures. These alliances give labels capital while preserving artist relationships, and give investors industry expertise. Competition for iconic catalogs is fierce, but a larger volume of lower‑middle‑market deals is emerging, reflecting a broader range of investment theses.

AI is a double‑edged sword. It can streamline royalty processing, metadata and licensing, yet the industry must balance innovation with protecting rights. Major labels are testing licensing models and partnerships with AI firms, aiming to create sustainable business models that compensate rights holders while enabling new creative avenues.