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"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.
Capítulo: “Conversations - On Schnabel and Interpretation with Konrad
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More from Music
Open Question to fellow investors tracking Music Industry.
A business like Universal which controls more than 1/3rd of all published music globally is selling for less than 6x FY20 Sales.
Why are Indian businesses like Saregama / Tips selling for 11x, 20x their sales?
If I include all of the revenue generated by entire firm, its selling for ~4.5x FY20 Sales
Universal Listing Market Cap ~ 40 Billion USD
FY 20 Revenues ~ 8.87 B USD or 7.4B EUR
Catalogue of Music includes every international artist you can possibly name
Either Universal is grossly undervalued or Saregama/Tips are grossly overvalued.
https://t.co/aHzWSYtcUt
https://t.co/v0EMoCuYKX
A business like Universal which controls more than 1/3rd of all published music globally is selling for less than 6x FY20 Sales.
Why are Indian businesses like Saregama / Tips selling for 11x, 20x their sales?
If I include all of the revenue generated by entire firm, its selling for ~4.5x FY20 Sales
![](https://pbs.twimg.com/media/E45ApSxVcAcMddy.png)
Universal Listing Market Cap ~ 40 Billion USD
FY 20 Revenues ~ 8.87 B USD or 7.4B EUR
Catalogue of Music includes every international artist you can possibly name
Either Universal is grossly undervalued or Saregama/Tips are grossly overvalued.
https://t.co/aHzWSYtcUt
Homework for all the interested participants here:
— Intrinsic Compounding (@soicfinance) June 27, 2021
Q1.Why 20% and not 50%+ Margins for UMG
Q2. Differences in dynamics between Western&Indian cos?
Q3. Trends in West vs Trends in India in the industry.
Research and find the answers. My job is done \U0001f601\U0001f64f
https://t.co/v0EMoCuYKX
If you see the ebitda of universal music its low 20% compared to our saregama 30% or tips 50%. So when you compare earnings saregama is 40x and tips is 30x and universal music is 30x. Also these type of companies are less( low or no capex with excellent and growinh cashflows)
— Srikanth V (@mynameisnani75) June 27, 2021
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Flat Earth conference attendees explain how they have been brainwashed by YouTube and Infowarshttps://t.co/gqZwGXPOoc
— Raw Story (@RawStory) November 18, 2018
This spring at SxSW, @SusanWojcicki promised "Wikipedia snippets" on debated videos. But they didn't put them on flat earth videos, and instead @YouTube is promoting merchandising such as "NASA lies - Never Trust a Snake". 2/
![](https://pbs.twimg.com/media/DsX3HqMUcAAXe9P.jpg)
A few example of flat earth videos that were promoted by YouTube #today:
https://t.co/TumQiX2tlj 3/
https://t.co/uAORIJ5BYX 4/
https://t.co/yOGZ0pLfHG 5/