Detroit is a city with many musical connections. But one musical connection might be helping pay for your retirement. 

Between 2010 and 2019, Michigan’s treasury pension fund invested $1.1 billion into music royalties. It significantly invested in Concord, an entertainment company that holds the copyrights to over 300,000 songs. 

Its catalog includes timeless acts like Billie Holiday, Phil Collins, Cyndi Lauper, and more modern artists like Brent Faiyaz and Tyla. Every time their songs are streamed, Michigan pensions grow. 

These investments are becoming more popular thanks to streaming platforms like Spotify, YouTube and Apple Music. 

It raises questions about how an influx of financiers could impact the music industry. And considering so few artists own their catalog, what does it mean for the earnings disparity between the musicians who make the music and the investors who profit from it?

Helping us sift through this is the founder of CAD Management, Clayton Durant. He is also an adjunct professor of music business at New York University.  

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