Music Licensing Inc announces plans to list on NASDAQ

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The so-called Magnificent Seven’s combined market capitalisation has taken a blow of at least $2.3t (£1.8t) since its July peak.
The so-called Magnificent Seven’s combined market capitalisation has taken a blow of at least $2.3t (£1.8t) since its July peak.

Music Licensing Inc, a leading music and performance rights licensing company has announced plans to list on NASDAQ. The company has filed necessary paperwork with the Financial Industry Regulatory Authority (FINRA) to confirm its eligibility.

In June 2022, Pro Music Rights, Music Licensing Inc’s main holding, was valued at nearly £350 m. In regards to its NASDAQ listing, the company is exploring a forward stock split or a stock-based dividend and a 1 for 5 forward stock split to increase liquidity, tighten the bid/ask spread, and increase trading volume.

The company is scheduled to list by mid to late February on NASDAQ First North Growth Market. The NASDAQ First North Growth Market is an alternative stock exchange for small and medium-sized companies in Europe.

Speaking about music licensing and the sector’s year in general, Will Page, former Chief Economist at Spotify was quoted saying “music copyright has never had it so good.” Page has estimated that the global music rights and licensing business is worth nearly $40 b (£32.8 b).