Trapital

K-Pop is in a unique situation. The genre “feels” like it’s everywhere. BTS, Blackpink, Stray Kids, and KPop **Demon Hunters have topped Billboard and Netflix charts. But recent data shows that roughly 2% of global streams are from K-Pop, and the genre is and trending down. We are joined by Will Page, former Chief Economist at Spotify and author of Pivot. He released a new report on Music Business Worldwide in collaboration with Jeongbeom ‘JB’ Kim, Chief Data Officer at the Korean-based KreatorsNetwork. We discussed how K-Pop’s demand is centralized at the top, why even a phenomenon like KPop Demon Hunters didn't lift the rest of the genre, and what Western labels keep getting wrong when they try to copy the model. We dive deep into Korea's "export or die" culture, and what other sports may teach music about reaching new audiences. CHAPTERS 04:47 The Status of K-Pop 08:28 The Impact of BTS' Hiatus 17:02 The Limitations of Superfan Monetization 24:38 "Export or Die" Model 29:44 Inflation's Impact on Music 31:28 Lessons from Formula 1 SPONSORS Chartmetric: Listen in for our Stat of the Week Symphonic: Distribute your music to one of the largest networks in the industry. Symphonic delivers your music to over 200 digital service providers ensuring that you’re monetizing every stream and use of your music on Spotify, TikTok, YouTube, and more TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

The multiples for music rights and catalog sales continue to rise, despite high interest rates. Selling can look rational in the moment but great music keeps finding new formats, new buyers, and new value. But it's hard to look at sales are pure financial decisions. As most investors know, there are countless factors that can go into a sale. We are joined by Josh Gruss, founder of Round Hill Music. We dive deep into the deals that he's worked on that blew past expectations (The Offspring, Goo Goo Dolls), the ones that got away, and Round Hill's public and private journey over the past decade and a half. CHAPTERS 01:54 Deal cycles in music rights 06:05 The Wind-up Records miss 12:45 The Offspring breakthrough 15:49 Goo Goo Dolls and "Iris" 24:02 Round Hill going public, then selling to Concord SPONSORS Trapital Summit Tickets Early bird tickets are available until July 15. Capacity is limited. AI on the Lot The largest AI media conference bringing together artists, innovators, filmmakers, media execs, startups, creators, and developers. Chartmetric: Listen in for our Stat of the Week TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

Is “Artists vs. AI” the wrong way to think about music’s future? At HumanX, I hosted a conversation with Splice CEO Kakul Srivastava and Universal Music Group’s Michael Nash on how AI can become a creative force multiplier for artists, not a replacement. We discussed why music’s supply problem existed long before generative AI, how artists are using new tools to reduce production friction, and why authentic connection still matters more than infinite output. The conversation also breaks down Splice and UMG’s partnership to build AI-powered music creation tools with artist control, copyright respect, and more. CHAPTERS 01:24 Artists vs. AI 04:27 Splice Tools 06:14 UMG x Splice 08:04 Ethical AI 12:42 Artist Control 14:31 Better Music 17:07 Five-Year Vision TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

In part two, you'll hear Clive Davis reflect on strategic decisions made when running a record label and career revivals he helped shape that defined another chapter of his run. He discusses the balance of control and economics in label joint ventures, why hitmakers are not always great talent scouts, and how LaFace became a powerful force through artists like Toni Braxton, TLC, and Pink. Davis also shares how he revived the careers of timeless artists, including Dionne Warwick, Aretha Franklin, Rod Stewart, Santana, and Luther Vandross. It’s a conversation about instinct, patience, and the discipline it takes to build lasting success in the music business. CHAPTERS 02:51 LaFace, Label Deals, and Joint Ventures 09:42 TLC, Toni Braxton, and P!nk 12:37 The Cost of Breaking Artists 17:05 Aretha, Rod Stewart, and Santana 21:14 Catalog vs. Career Revival 25:30 Follow-up Call SPONSORS Chartmetric: Listen in for our Stat of the Week Symphonic: Distribute your music to one of the largest networks in the industry. Symphonic delivers your music to over 200 digital service providers ensuring that you’re monetizing every stream and use of your music on Spotify, TikTok, YouTube, and more TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

Coachella sold out in five days after announcing Justin Bieber as headliner. That's the good news. The bad news? It tells you how hard it's become to book a headline act who can actually move 250,000 tickets for the one of most premiere music festivals in the world.Dave Brooks, a music correspondent at Puck and host of the Decibel and Docket podcast, joins the show to break down the business of festival season 2026. We get into why the biggest artists no longer need Coachella, which festivals are actually profitable, and what's ahead for live music.CHAPTERS07:46 The Bieber Effect08:02 Stadium Money11:50 Why Stagecoach is Different21:13 Lollapalooza23:43 Chris Brown and Kanye WestSPONSORSAll People Powered is a live concert and pitch competition on Saturday, April 11 where three Bay Area founders pitch on stage for $30,000 in real funding. Get your ticket here.Symphonic: Distribute your music to one of the largest networks in the industry. Symphonic delivers your music to over 200 digital service providers ensuring that you’re monetizing every stream and use of your , TikTok, YouTube, and more

As streaming growth slows, the music industry is searching for its next big opportunity. One of the leading bets? AI-powered music creation. I'm joined by MIDiA Research’s Tati Cirisano to break down whether platforms like Suno represent a true growth engine or just another niche product. We explore the rise of consumer creation, the limits of the “superfan” narrative, and why the future of music revenue may be more fragmented than the industry hopes. CHAPTERS 02:10 Rise of AI music tools 06:00 The superfan idea 14:30 The superfan landscape 22:30 Suno’s growth 40:00 AI vs. streaming 46:00 Labels and deals 52:00 Streaming’s future SPONSORS Symphonic's Women Empowered+ mentorship program. ⁠Apply as a mentor or mentee here⁠. Chartmetric: Listen in for our Stat of the Week Linktree: Share music, sell merch, and connect with fans on one simple link. Linktree is the #1 link in bio tool that musicians and artists use to connect fans to everything they do. TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

Investors have poured more money into music than ever before. Music as an asset class if hotter than ever,. But the public markets have discounted the value of music companies: UMG stock is currently trading near its all-time low WMG trades at a discount on its earnings relative to UMG RSVR is going through a takeover attempt Several publicly traded music companies have been taken off the public markets This is a huge disparity, and it was time to explain why. In this solo episode, I break down this paradox. We will also connect the dots to real estate, the post-2021 repricing, and why more take-private attempts may be ahead. CHAPTERS 00:10 Private vs Public Money in Music 07:26 Similarities in Music 08:19 2021 Reset 15:10 WMG and UMG 24:02 What’s Ahead SPONSORS Chartmetric: Listen in for our Stat of the Week Linktree: Share music, sell merch, and connect with fans on one simple link. Linktree is the #1 link in bio tool that musicians and artists use to connect fans to everything they do. TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

Sphere Entertainment is now profitable, Wizard of Oz was a hit, and more locations are coming. Has the business turned the corner, or are there still question marks? In this episode, I’m joined by Tati Cirisano, MIDiA Research, to assess where Sphere Entertainment stands in 2026. We unpack the company’s narrative, scalability, residencies, challenges, and more. CHAPTERS 01:34 Is It Really Profitable? 10:01 The Concert Residency Model 14:58 Sphere Expansion Plans 22:33 Novelty Risk 26:07 Does Sphere Have a Comp? SPONSORS Chartmetric: Listen in for our Stat of the Week TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

For the past 20 years, subscription streaming has produced an outcome that still gets overlooked. The category winners weren’t the big tech giants or the major studios. In music, Spotify became the default. In premium video, Netflix did the same. In this episode, we break down how pure-play focus, faster decision-making, and a single retention-driven scoreboard create compounding advantages that big tech’s money and bundling can’t easily copy. CHAPTERS 01:03 Why Spotify and Netflix Succeeded 06:13 Pure-Play Edge 10:36 Speed & Ownership 14:29 Survivorship Reality SPONSORS Chartmetric: Listen in for our Stat of the Week Symphonic: Distribute your music to one of the largest networks in the industry. Symphonic delivers your music to over 200 digital service providers ensuring that you’re monetizing every stream and use of your music on Spotify, TikTok, YouTube, and more TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

YouTube is the biggest TV, music, and video platform in the world, but it’s not satisfied. The company still wants to compete for the dollars that go to traditional TV. But can YouTube have it all? In this episode, we examine YouTube’s push into the living room, from securing the NFL Sunday Ticket to becoming the exclusive home of the Oscars starting in 2029. But as YouTube chases TV legitimacy and higher profit margins, it faces a core tension: how can it get there without losing the creator-driven ethos that made it dominant. We break down YouTube’s battle for short-form dominance, where YouTube TV fits in, and what its evolving strategy reveals about the future of media, creators, and global attention. CHAPTERS 02:12 YouTube’s Ambition 04:59 YouTube vs TikTok 10:04 YouTube TV 13:16 Future of YouTube SPONSORS Chartmetric: Listen in for our Stat of the Week TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

In this episode, we sit down with Will Page, economist and author of Pivot, for a deep dive on the global economics of music. Using Will’s latest Global Value of Music Copyright Report, we explore streaming economics, global market gaps, AI, and where the music industry’s next phase of growth may come from. CHAPTERS 02:45 Global Value of Music: 10 Years in Review 11:24 Emerging Music Markets 13:37 Africa’s Music Economy 18:11 Brazil’s Music Market 21:12 The Crocodile Smile 33:18 AI and Music’s Future SPONSORS Chartmetric: Listen in for our Stat of the Week beatBread: Smarter choices. Better deals. GUEST Will Page, former Chief Economist of Spotify and PRS for Music, Author of Pivot LINKS Global Value of Music Copyright - Will Page TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

People say they miss when MTV played music videos, but their viewing habits say otherwise! We revisited one of our most popular episodes from 2023, but trimmed it down to include the best parts. I’m joined by Zack O’Malley Greenburg to unpack MTV’s rise from a scrappy video platform to a cultural powerhouse. We break down breakthrough moments like Michael Jackson’s “Billie Jean”, the rise of reality TV, the networks influence, rise, fall, and what’s next? CHAPTERS 01:04 The Birth of MTV 04:45 MTV's Business Model 13:01 Cultural Impact of Influence 21:28 Rise of Reality TV 29:59 MTV ‘s Decline SPONSORS Chartmetric: Listen in for our Stat of the Week beatBread : A music funding platform that empowers independent artists to access advances on their streaming income while keeping 100% ownership of their music. Splice, a cloud-based music creation platform offering millions of royalty-free samples, plugins (via rent-to-own), and AI-powered tools to inspire creators everywhere GUEST Zack O’Malley Greenburg, Author, Empire State of Mind TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

This episode is in partnership and collaboration with our friends at The Recording Academy You’ll hear our deep dive on what we can learn from this years Grammys with our usual analysis and a few select guests including: Panos Panay (President of The Recording Academy), Tati Cirisano (MIDiA Research), Zack O’Malley Greenburg, author and investor. We discuss the biggest takeaways from the 2026 nominations, the rise of international music, how the voting body has evolved, and the economic lift of a Grammy win. CHAPTERS 01:41 - Biggest takeaways 05:41 - Tati Cirisano joins us 13:02 - Panos Panay joins us 17:10 - Which past Grammys would have changed 21:52 - The Grammy Bump 33:10 - Zack Greenburg joins us SPONSORS The Recording Academy Chartmetric: Listen in for our Stat of the Week Tidal: Win $100k with the Tidal Upload Contest GUESTS Panos Panay, President, The Recording Academy Tatiana Cirisano, VP Music Strategy, MIDiA Research Zack O’Malley Greenburg, Author, Empire State of Mind TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free. RESOURCES What is the Economic Value of a GRAMMY in Today’s Industry? - Chartmetric and Will Page