Ep 08 Part 2: How Do Music Royalties Stack Up in Today’s Market Cycles?

Groundfloor CEO Brian Dally continues his conversation with Jillian Murrish, CEO and co-founder of Pier Asset Management, focusing on where specialty finance and music royalties fit in today’s volatile market. Jillian argues music royalties are largely non-correlated to stocks and unemployment, may hold up in downturns as streaming substitutes for other entertainment, and are relatively insulated from interest-rate moves. She also frames music as “AI-proof” because audiences value human artists and live performance. Jillian discusses portfolio construction across genres, songs, and royalty-rights types, Pier’s underwriting workflow, and why regulated banks create ongoing specialty finance opportunities, including institutionalization via securitizations.

00:00 Part Two Setup

00:34 Market Cycle and Noncorrelation

03:15 AI Proof Music Investing

05:17 Streaming Growth Drivers

06:57 Diversification and Royalty Types

10:09 Deal Flow and Underwriting

10:48 Future of Specialty Finance

12:37 Securitization and Scaling

15:49 Rapid Fire Q and A

17:53 Final Takeaways and Wrap

Beyond the Stock Market podcast: https://groundfloor.com/podcast

Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/

Connect with Jillian Murrish on LinkedIn: https://www.linkedin.com/in/jillian-murrish-b324a52b/

References:

• Pier Asset Management: https://www.pieram.com/
• Beeple: https://www.beeple-crap.com/
• Goldman Sachs report: https://www.goldmansachs.com/insights/articles/global-music-revenues-are-forecast-to-double-to-200-million-in-2035

The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.