Music Asset Management & Acquisition

Capital that moves
at the speed
of music.

A subsidiary of musicnurds. Liquid is a music asset management and acquisition firm — deploying competitive resources in catalog acquisition through royalty financing, publishing advances, and strategic lease structures.

Competitive
Acquisition Capacity
40+
Combined Years Experience
360°
Rights Coverage
About Us

Built for the business
of music rights.

Liquid is a music asset management and acquisition company operating at the institutional level of the rights economy. We deploy capital across royalty financing, catalog acquisition, publishing advances, and lease structures — working with artists, songwriters, publishers, labels, and rights holders of every size.

We bring the relationships, deal experience, and financial infrastructure to close with speed. Whether you are a legacy catalog owner evaluating exit options, an independent artist seeking a non-dilutive advance, or a publishing entity structuring a lease — Liquid brings the capital and the expertise to execute.

Our competitive acquisition capacity means we can move on meaningful catalogs and portfolios without the delays.

"The music rights market is one of the most durable asset classes in alternative investing. Liquid was built to operate at the center of it."

— Liquid, Co-Founders
Institutional Capital, Music-Native Execution
We combine institutional capital discipline with deep music industry knowledge — understanding how royalties flow, how catalogs are valued, and how deals actually close in this market.
Non-Dilutive Structures
Our royalty advance and financing products are engineered to provide liquidity without permanently transferring ownership — preserving long-term upside for rights holders.
Speed & Discretion
We operate with urgency and full confidentiality. When a catalog window opens, we move. All inquiries and transactions are handled with complete discretion.
Backed by Institutional Relationships
Our capital and deal flow are supported by established relationships with leading music finance and catalog acquisition firms — giving us the firepower to move on meaningful assets with confidence.
What We Do

Full-spectrum music
asset services.

From single-song royalty advances to nine-figure catalog acquisitions, Liquid operates across every major structure in the music rights economy.

Royalty Financing
Non-dilutive royalty-backed financing for artists, songwriters, and rights holders. We underwrite mechanical, performance, and neighboring rights income across DSPs and global collection societies to structure competitive advances — with recoupment built around actual cash flows.
Catalog Acquisition
Liquid acquires music catalogs of all sizes — from catalog-backed portfolios to individual song copyrights. With competitive and partner resources, we can evaluate, diligence, and close on meaningful assets without funding delays.
Publishing Advances
Structured advances against publishing income for songwriters and publishing entities seeking immediate liquidity. We offer flexible terms and recoupment structures designed around actual cash flows — giving rights holders real choice, transparency, and control.
Publishing Leases
Term-based publishing lease structures allowing rights holders to monetize catalog income over a defined period while retaining ultimate ownership. Leases are priced on current and projected royalty income and can accommodate ongoing music creation.
Masters Financing & Acquisition
We finance and acquire master recording rights — from independent artists and labels seeking liquidity to legacy catalogs held by estates and rights administrators. We evaluate streaming data, licensing history, and synchronization potential in our underwriting.
Music M&A Advisory
Strategic advisory for music companies, publishing entities, and catalog owners navigating acquisitions, mergers, or platform sales. We represent buyers and sellers through valuation, due diligence, and transaction execution.
How It Works

The royalty advance
structure, explained.

Liquid's advances are engineered around actual royalty cash flows. Here is how capital moves from us to you, and how recoupment works over time.

Step 01
Submit Your Catalog
Share your catalog details, royalty statements, or DSP analytics. Masters, publishing, or both — we evaluate all rights structures.
Step 02
Underwriting & Valuation
Liquid underwrites your royalty income across PROs, mechanical societies, DSP revenue, and sync history to model projected cash flows.
Step 03
Offer Structured
We present a transparent offer: advance amount, recoupment rate, deal length, and income flowthrough — no hidden fees or unclear terms.
Step 04
Capital Deployed
Once agreed, funds are deployed directly. The advance is yours to use — recording, touring, operations, or reinvestment. No restrictions.
Step 05
Recoupment from Royalties
Liquid recoups from your incoming royalty streams at the agreed rate. Once recouped, 100% of royalties revert to you — full ownership retained.
Illustrative Recoupment Timeline — $250K Advance
Year 1
$70K recouped
Year 2
$140K recouped
Year 3
$210K recouped
Year 3.6
✓ Fully Recouped — Rights Revert 100%
Illustrative only. Actual timeline depends on advance size, agreed recoupment rate, and actual royalty income.
Industry Primer

How music publishing
generates revenue.

Music publishing is one of the most durable revenue streams in the rights economy — spanning performance royalties, mechanical licensing, sync placement, and digital distribution. Understanding these streams is the foundation of every deal Liquid structures.

5 Revenue Streams
Performance Royalties (PRO)35%
Mechanical Royalties25%
Sync Licensing20%
Streaming / Digital15%
Print & Other5%
Performance Royalties
35%
Collected by PROs (ASCAP, BMI, SESAC) when music is publicly performed — radio, streaming, live venues, TV broadcast. Paid to both publisher and songwriter.
Mechanical Royalties
25%
Paid when a composition is reproduced — physical sales, digital downloads, and on-demand streaming (via the Mechanical Licensing Collective in the US).
Sync Licensing
20%
One-time or recurring fees for placing music in film, TV, advertising, games, and digital content. High-value placements can generate significant lump-sum income.
Streaming / Digital
15%
Direct digital licensing income from DSPs (Spotify, Apple Music, YouTube Content ID), separate from mechanical royalties — including neighboring rights income.
Rights Structure

Masters vs. Publishing — understanding the split.

Every piece of recorded music involves two distinct sets of rights. Liquid finances and acquires both — individually or together.

Sound Recording Rights

Master Recording

The master recording is the original fixed recording of a song — owned by whoever funded the recording. Masters generate revenue through digital distribution, streaming royalties, sync licensing of the sound recording, and neighboring rights.

Spotify / Apple Music / DSP streaming income
Neighboring rights (broadcast performance)
Sync fee — master recording component
Physical / digital download income
YouTube Content ID monetization
Composition Rights

Publishing / Composition

Publishing rights cover the underlying composition — the melody and lyrics — separate from any recording. Publishing generates mechanical royalties, performance royalties, sync fees, and print income regardless of which version of the song is used.

Mechanical royalties (MLC / HFA)
Performance royalties via PROs (ASCAP, BMI, SESAC)
Sync fee — composition component
Print / sheet music licensing
Sub-publishing income (international)
Acquisition Capacity
Competitive resources deployed
in the multi-billion dollar music rights space.

Liquid's acquisition capacity is backed by institutional relationships in the music finance space — giving us the firepower to compete on significant assets, close decisively, and move without delays.

Competitive resources deployed in the multi-billion dollar music rights space
Masters · Publishing · Hybrid Rights Structures
Institutional capital — music-native execution
Acquisitions · Advances · Leases · Financing
Leadership

The team behind Liquid.

B
Head of Catalog Finance & Advance Origination · Liquid
Brian Upercruss
Catalog Acquisition Executive · Music Rights Portfolio Manager
Royalty Administration Catalog Finance Artist Advance Origination 360-Deal Structuring Publishing M&A
Two decades spent entirely behind the scenes — in royalty administration, label business affairs, independent consulting, catalog finance, and royalty advance origination. Brian Upercruss has been the person in the room that nobody puts in the press release, but everyone calls when artist money is on the line.
Areas of Expertise
Mechanical & Performance Royalties Catalog-Backed Advance Underwriting 360-Deal Structuring Publishing Acquisitions Touring & Merchandise Finance Recoupment Modeling DSP Revenue Analysis Label Business Affairs
R
Director of Publishing Acquisitions & Catalog Management · Liquid
Randy "Ray" Bullock
Catalog Management Strategist · Publishing Acquisitions Director
Music Publishing Concert Promotion Sync Licensing Live Events Publishing M&A
Twenty-three years operating at the crossroads of music publishing and the concert business — from licensing and rights administration to large-scale live event strategy and publishing acquisitions. Randy "Ray" Bullock has spent his career building bridges between the song and the stage, and understanding the value at every step in between.
Areas of Expertise
Music Publishing Licensing Concert Promotion & Live Events Sync & Placement Strategy Publishing Acquisitions Touring Finance Rights Administration Artist & Venue Partnerships Performance Royalty Management
View All
Get in Touch

Let's talk about
your asset.

Whether you are looking to sell a catalog, secure a publishing advance, structure a lease, or explore a royalty financing arrangement — Liquid operates in confidence and moves with purpose. All inquiries are handled with complete discretion.

Based In
United States
Acquisition Capacity
Competitive
Confidentiality
All inquiries handled with full discretion.
Have an opportunity to discuss?

All submissions are confidential. Liquid does not share inquiries with third parties.