Stephen Otter

speaker

116 appearances 1 recordings 1 series first heard Jun 2026 last heard 16 Jun

Stephen Otter’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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FEAR & GREED | Business News · Q+A: The $2 trillion asset class most investors overlook · 16 Jun 2026 podcast

And so a third party operates the assets.

They fund all of the costs associated with the assets.

And then last but not least, when the asset that we own, which is operated by a third party, generates revenue, we receive a percentage of the revenue line.

Yeah, so it's relatively complicated.

Let me try and keep it high level for the purpose of the conversation.

Simplistically, whenever a song is created, two copyrights are created.

So the sound recording, i.e.

what you actually hear of that song, and the second copyright is related to the lyrics and the melody.

And on the back of those two copyrights, basically anybody who provided input to the song will be granted their own royalty over the song.

So Justin Bieber, his songwriter, record label, producers, etc.

And so every time you then hear that song played on the radio or streamed on Spotify or played in a live performance, each of those royalty owners, i.e.

the people who contributed to the song, will be getting paid royalties.

a percentage from the proceeds of the song that it's making.

So as a royalty investor, you can actually go out and buy those different royalty income streams such that whenever you hear the song being played, you're getting a percentage of the revenue from that.

I think the cleanest way to think about it is that when you pay a subscription to Spotify, Spotify obviously keeps a percentage internal for profits to run Spotify.

and then a very large percentage is actually paid out to the royalty owners and so the way to think about it is if you had two songs in a country and let's say a hundred dollars was created of royalty income to be paid out how that is then split is based on the underlying consumption of that song of those two songs within that country so let's say hundred dollars of royalty income in australia two songs one was consumed three times more than the other then 75 percent of that 100 will go to the royalties on their first song

And then 25 will go to the other song.

Well, actually, that's the exact thing we stay away from in our investing.

So we're actually focused within... But it's a great question because it's one of the biggest risks.

So within the royalties fund, the partners group, we are focused on producing assets which are already in the market, generating yield and generating cash flow.

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