Music catalogs are fetching huge deals. Are they overvalued?

Music assets are selling for unusually high valuations. During the last 25 years, songwriting catalogs generally sold for about eight to 12 times the “net publisher’s share,” or the amount of revenue the songs generated minus the royalties paid out to the performers and songwriters. Today, valuations are hitting 25 to 30 times the publisher’s share, according to industry experts and executives.

Source: Music catalogs are fetching huge deals. Are they overvalued?