Trapital Dan Runcie

The list of brands that Penske Media Corporation owns or has invested in is long: Billboard, Variety, The Hollywood Reporter, Rolling Stone, Music Business Worldwide, Deadline, and dozens more.
What's Penske's long game? Are these companies better off? Where would these companies be without Penske? Which companies are most likely next?
To break it all down, I'm joined by Bill Werde, former Billboard editorial director, author of Full Rate No Cap, and the Director of Bandier Program of Recording and Entertainment and Syracuse’s Newhouse School.

This episode is brought to you by 4se New York, where sports and entertainment come alive.
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While Drake and Kendrick Lamar trade diss tracks back and forth, we decided to dig into the engine that makes it all possible. How has rap beef evolved in the streaming era and social media? Do the stakes still matter? Who makes money from these beef? How does this impact hip-hop's "decline"?
I'm joined by BrandMan Sean, our friend of the pod who had a lot to say about this. Listen here or wherever you get podcasts!

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Private equity firm KKR has been fascinating to watch in the music rights landscape. Just when you thought they were out, they get pulled back in!
In this episode, we break down the past few years of KKR's deals with Chord Music, Kobalt, HarbourView Equity Partners. Why did they sell Chord Music? Why did they partner with HarbourView? What does it say about the broader music rights investing landscape.
Listen to me and Anna Nicolaou from the Financial Times break it all down.
00:00 KKR's $500M debt deal with Harborview
07:24 How rising interest rates affect the valuation of music
14:50 KKR vs other players in the industry
22:15 The role of UMG in the music rights landscape
30:25 Predictions on the current bidding wars
This episode was brought to you by 4se New York, the sports and entertainment event on May 21-22. Learn more here.
Make sure you listen for our Chartmetric stat of the week.
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Trapital is home for the business of music, media and culture. Learn more by reading Trapital’s free memo.

On April 11, Taylor Swift’s songs reappeared on TikTok despite the platform's ongoing dispute with her record label, Universal Music Group. This move was made in advance of the release of Taylor’s 11th studio album, The Tortured Poets Department.
On this episode of Trapital, Tatiana Cirisano and I discuss why Swift and UMG don’t see eye-to-eye, competing incentives, who’s in charge at UMG, and more.

00:00 Why we’re not surprised Taylor Swift made this move
07:52 Why Swift and UMG have competing incentives
13:37 What it means for UMG and TikTok moving forward
24:27 Who’s the most powerful person in the music industry?

This episode is brought to you by EVEN, where you buy the art from the artist. Learn more at https://get.even.biz/trapital
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Trapital is home for the business of music, media and culture. Learn more by reading Trapital’s free memo.

We've had plenty of conversations on Trapital about Diddy's business success, so we have to keep that same energy when outlook changes.

On this episode, Zack O'Malley Greenburg and I talk about our initial reactions to the allegations surrounding Sean Combs, and we talk about the present state and future of the biggest businesses in his portfolio.

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Despite the all-time record highs for the live music industry, music festivals haven't quite had the same post-pandemic recovery. Several well-known festivals have closed up shop, and others have had slower than usual demand (even Coachella!)

To break it all down, I'm joined by Tati Cirisano from MIDiA Research. Hope you enjoy!

Make sure you check out our Chartmetric stat of the episode!