BC MUSIC
Saved by @SAnngeri

Open Question to fellow investors tracking Music Industry.

A business like Universal which controls more than 1/3rd of all published music globally is selling for less than 6x FY20 Sales.

Why are Indian businesses like Saregama / Tips selling for 11x, 20x their sales?

 If I include all of the revenue generated by entire firm, its selling for ~4.5x FY20 Sales
Universal Listing Market Cap ~ 40 Billion USD
FY 20 Revenues ~ 8.87 B USD or 7.4B EUR

Catalogue of Music includes every international artist you can possibly name

Either Universal is grossly undervalued or Saregama/Tips are grossly overvalued.
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And just to clarify before people start posting
"Rocket Emojis with to the moon tags"

this business wouldn't hit 3lk cr market cap in next 3 yrs but it can steadily compound at 25-30% YoY for next 10 yrs

At 25% CAGR over 10 yrs, you get a 10 bagger

Keep expectations in check.
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It's the weekend!
Grab a cup of coffee, in this thread I will explain

1. What are ETFs?
2. How are they different from Mutual Funds?
3. What are factors to consider while investing in ETFs?

Lets dive right in.


ETFs stand for Exchange Traded Funds

The easiest way to understand them is to think of them as Mutual Funds that are traded on the exchange just like stocks.

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I'd like to say a few things in tribute to the brilliant musical director & vocal coach Kate Young, who died far too young last week. Even fellow musical theatre folk may not know what a trail-blazing talent she was, so here's my story of Kate (thread)/1

I first met Kate at a rehearsal for Wayne Sleep's 1983 touring dance show DASH, for which I was composer. What struck me first about her (apart from the poetic lilt of her warm, Edinburgh accent) was the impeccable care she was taking playing piano for dance rehearsals /2


(believe me, & I mean no disrespect to lovely dancers & choreographers but playing piano for dance sessions isn't called REPETITEUR for nothing and many repetiteurs switch to auto-pilot at the keys. Kate never did. Her playing was always immaculate)/3

We hit it off immediately & had long, ranty discussions about how we wanted to change musical theatre, like young people do. We had specific aims to do with the way singing was taught & shaped for the stage. /4

We wanted the singing to be much more text & meaning-focused, for actors to have the confidence to sing as well as trained singers & for the sound to be more nuanced, more plural in style & less belty & samey (tbh not sure we won that battle..) /5
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"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - Talking to Brendel with Jeremy

Ya casi llegamos al final de este maravilloso libro. En esta sección, Brendel comparte varias entrevistas. La primera de ellas fue en 1972 con Jeremy Siepmann, músico, locutor, articulista y autor de varios libros sobre música.


Si bien después de 377 hojas ya tenemos una buena idea sobre las opiniones de de Brendel sobre la música y el quehacer musical, en esta entrevista revela varios puntos de vista.


Sobre si disfruta interpretar música, Brendel responde que sí, sobre todo en los últimos años, “when I’ve had the impression that much of what I do comes across. Of course, one very rarely knows if the right things come across)”.


Sobre si los intérpretes existen para vincular al compositor con el público, Brendel afirma que le interesa más la relación del intérprete con el compositor que con el público: “What fascinates me is to make sense of a piece of music while it sounds”.
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One of all time favourite motivational song & I listen to it almost daily😊

Underrated song but a true nasterpiece with amazing lyrics & music👌🏻

https://t.co/Omhz4gyJqI

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Mr. Charles Isidi
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I think Frank Edwards needs to hire a team to do major work sanitising and building a better digital experience for his music, his digital trail and everything else in between

I say this out of need to the larger lesson to creatives, i'd hate to restrict this to Christians alone

I love Frank Edwards, his songs form a huge part of my morning worship routine. But for the past two weeks, I've been looking for a song that I used to play a lot in my first/second year of uni and couldn't find it until I searched a random part of the lyrics and went as far as..

The 6th page on Google search. Yes, that's how badly I wanted it.

Even when I found the name of the song, the song was available as a lyric video on YouTube and published by someone entirely different from who I wanted to give streaming dollars to, that's if it counts for much.

Hit another bump. I want to subscribe, and I realise there's over 11 Frank Edwards on YouTube. Each with huge and growing subscriber numbers, that was worrying.

It was not until this morning I found one with 250k subscribers and I thought... Ah this has to be him.

I search on Google for Frank Edwards and his entire discography isn't listed on Google and it in fact worried me.

Now I am moving to upset because this is someone I love deeply and hate to see how there's so much low hanging fruit that he isn't taking advantage of.
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Julieta Ovalle
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"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - Bach and the Piano with Terry

En 1976 Terry Snow entrevistó a Alfred Brendel sobre sus puntos de vista acerca de la obra de Bach para teclado, la cual hasta ese entonces Brendel había evitado ejecutar en sus conciertos.


Brendel cambió de opinión en esa época. Al haber sido alumno de Edwin Fischer, quien transmitía la música de Bach de una manera única y con poderosa autoridad, le tomó tiempo considerar que estaba listo para abordar a Bach en sus propios

En un principio, Brendel no se sentía muy convencido por las ejecuciones “históricas”. Sin embargo, para él la obra de Bach es menos dependiente de los instrumentos contemporáneos que la de Monteverdi, Domenico Scarlatti, Purcell, Rameau y Couperin.


Entre las ventajas de interpretar las obras para teclado de Bach en piano, Brendel considera el hecho de que este es más adecuado para las salas de concierto modernas. Además, para Brendel dichas obras están llenas de posibilidades
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