Investment Analyst

Responsibilities

• Build DCF valuation models for catalog acquisitions, label deals, and artist advances, including decay curve construction, streaming forecast builds, and terminal value assumptions
• Model deal structures across their full mechanics: advance sizing, recoupment waterfalls, royalty splits, escalators, term and reversion, minimum guarantees, and earn-outs
• Run IRR, MOIC, and payback analysis across multiple structure scenarios; produce sensitivity and downside cases that show what actually breaks the deal
• Perform royalty statement diligence: normalize statements across distributors and DSPs, tie reported income to underlying streaming data, and identify undisclosed leakage, misattribution, or unrecouped positions
• Verify ownership and rights: master vs. publishing splits, Schedule A and asset-level review, ISRC/UPC-level ownership confirmation, territory carve-outs, existing encumbrances, and producer or featured-artist obligations
• Analyze streaming and consumption data (Luminate, Spotify for Artists, Chartmetric, raw DSP reporting) to separate durable catalog income from promotional spikes, playlist dependence, and one-off virality
• Flag the diligence issues that change price, not just the ones that fill a checklist
• Draft investment committee memos: thesis, valuation, structure, key risks, and recommendation
• Build the deal-specific analysis that supports negotiation, and sit in on negotiation to update the model in real time as terms move
• Maintain portfolio monitoring: actual vs. underwritten performance, recoupment tracking, and post-close variance analysis to identify any issues in collections or forecasts on every closed deal
• Support pipeline tracking and analytics infrastructure — help improve and build an efficient analysis framework
• 2–5 years of proven analysis experience including underwriting and investment appraisal gained through a career in music finance, music investment, distribution, label finance, royalty administration, or investment banking / private credit with meaningful music or media exposure
• Demonstrated fluency in music industry economics- you understand how streaming revenue is actually generated, reported, and paid, and you know the difference between master and publishing income, gross and net receipts, distributor rates and label rates
• Advanced Excel modeling skills: you can build a multi-scenario deal model from scratch
• Strong numerical and analytical skills with the ability to interpret data, formulate opinions, and discuss the merits and weaknesses of potential investments for decision making purposes
• Strong communication and presentation skills, ensuring clear and accurate presentation of findings to stakeholders
• Ability to efficiently manage multiple projects and stakeholders within tight deadlines
• Direct experience with royalty statement data analysis
• Experience with Luminate, Chartmetric, or equivalent consumption data platforms
• Exposure to catalog M&A, music royalty funds, or private credit structures in music
• Familiarity with artist, songwriter, label, distributor and publishing agreements