If the catalogue-buying boom has taught us anything, it’s that a growing number of investors see songs as a valuable AND predictable ‘asset class’ – with the predictability coming largely from streaming.
Now startup Clouty is hoping to capitalise on that by launching a “composite index” called Musiq, which aims to provide a “spot price” for the 500 top-streamed songs in the US. It is planning to launch separate genre-based indexes too in the coming months, as well as a global index.
In other words, this is a financial index, just for songs rather than company share prices. It will be refreshed every week.
It’s a pivot – or at least an evolution – for Clouty, which emerged in early 2020 as a startup claiming to be the world’s “first music betting platform”. That involved encouraging fans to place bets on awards, releases and topical questions in the hip-hop world.
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