| Catalog size | 1.3M+ rights-cleared, human-tagged sounds |
| Music / stems | 25,000+ tracks |
| Categories | 660+ |
| Storage | 5.8 TB · 5,000+ hours |
| Ownership | 100% owned outright · clean chain of title |
| Proven AI training use | Sony AI Woosh (May 2026) · Musical AI (May 2025) |
| Growth path | 3M sounds by 2028 · up to 3.5M SFX / music / speech / voice |
| Industry positioning | PSA founding member & Chair (Sep 2026) |
The catalog is now worth more than ever — Sony AI licensed it to train a foundation model, Musical AI is paying usage royalties, and you're publicly defending its licensing value through the PSA. Yet it likely sits at near-zero on the balance sheet.
Mechanism: under ASC 350, organically developed intangibles are expensed as incurred, not capitalized. Twenty-two years of accumulated, rights-cleared audio was never booked as an asset.
The gap between economic value and carrying value is the financing opportunity.
| # | Structure | Collateral / Revenue Base | Why It Fits PSE | Market |
|---|---|---|---|---|
| 1 | IP-Backed Lending Structured Credit |
Catalog copyright as collateral; licensing revenue as repayment | Clean title, identifiable revenue (Sony AI, Musical AI, subscriptions, enterprise). No SFX library has been securitized yet — PSE would be the first. The music-catalog market (Concord, $1.765B, Jul 2025) proves the structure works. WIPO & EUIPO 2026 reports confirm a growing IP-backed finance market. | Growing |
| 2 | Revenue-Based Financing |
Future subscription + enterprise + AI-data license revenue | Recurring, predictable streams (CORE 7 at $299/mo, enterprise custom, AI/ML licensing). No equity dilution. | Mature |
| 3 | Receivables Financing / Factoring |
Existing license receivables; Musical AI usage-tracked royalty streams | Musical AI's usage-tracking produces auditable, itemized royalty receivables — the exact paper trail a factor wants. | Mature |
| 4 | Working Capital Trade Finance |
Existing license revenue as support | Viable against the same revenue base. Smaller facility; useful for new recording sessions and operating runway. | Moderate |
| 5 | Tokenized Positions |
Fractional ownership of catalog revenue or catalog itself | Utility / governance / security / NFT or unregulated tokens. Conceptually possible (fractional music-catalog platforms exist). No established market at this scale yet. | Speculative |