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Diplo, Twenty One Pilots Royalties to Back Bonds Sold by Chord

Bloomberg
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Chord Music Partners is issuing $500 million in bonds backed by music royalties from high-profile artists like Twenty One Pilots, Diplo, and Morgan Wallen, marking a major financial move in the music rights sector. The bonds are asset-backed securities tied to a 3,750-song catalog valued at approximately $830 million, according to a Kroll Bond Rating Agency report, highlighting the growing monetization of music intellectual property. This transaction reflects the increasing trend of using music royalties as collateral for debt financing, offering investors exposure to stable, long-term revenue streams from streaming and licensing. The deal underscores the financialization of music rights, where firms like Chord acquire catalogs to securitize future earnings, appealing to institutional investors seeking alternative assets. The move comes amid a broader industry shift, with music royalties becoming a sought-after asset class for diversified portfolios, blending entertainment and high finance.
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Diplo, Twenty One Pilots Royalties to Back Bonds Sold by Chord

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Diplo performs onstage during the 2025 iHeartRadio Music Festival in Las Vegas.Photographer: Bryan Steffy/Getty ImagesChord Music Partners, a firm which invests in music rights, is selling $500 million of bonds backed by royalties from artists including Twenty One Pilots, Diplo and Morgan Wallen. The asset-backed securitiesBloomberg Terminal are tied to a catalog of more than 3,750 works from several artists, according to a Kroll Bond Rating Agency report, and is valued at about $830 million.

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Source: Bloomberg