UMG and the Music as a Service Paradigm

Hey everyone,

​

I recently published a 2-part series analysis on $UMG and the music industry on my susbtack! It includes:

– A primer on the music industry

– How and why streaming has transformed it

– and why $UMG is the best way to get exposure to the industry (better than exposure to DSPs such as Spotify) with a lot of margin of safety thanks to the IP it possesses

​

Check it out:

https://goldenlake.substack.com/