A $550 Million Springsteen Deal? It’s Glory Days for Catalog Sales. 工人皇帝5.5億美元進帳 音樂版權的輝煌年代


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讀紐時學英文
2022/01/21 第368期 訂閱/退訂看歷史報份
 
 
紐時周報精選 A $550 Million Springsteen Deal? It's Glory Days for Catalog Sales. 工人皇帝5.5億美元進帳 音樂版權的輝煌年代
Air Filters and Outdoor Spaces: Office Costs Rise as Workers Return 員工回歸 辦公室支出增加
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A $550 Million Springsteen Deal? It's Glory Days for Catalog Sales. 工人皇帝5.5億美元進帳 音樂版權的輝煌年代
文/Ben Sisario
譯/陳韋廷

工人皇帝5.5億美元進帳 音樂版權的輝煌年代

In 1972, a struggling New Jersey musician hustled into Manhattan for an

audition at Columbia Records, using an acoustic guitar borrowed from his

former drummer.

1972年,一位還在力爭上游的新澤西樂手匆匆忙忙趕到曼哈頓參加哥倫比亞唱片公司的試唱,使用的是一把向他之前的鼓手借來的民謠吉他。

"I had to haul it 'Midnight Cowboy'-style over my shoulder on the bus and

through the streets of the city," the rocker, Bruce Springsteen, later

recalled in his memoirs.

搖滾歌手布魯斯史普林斯汀後來在回憶錄中描述這段往事:「在公車上,我不得不像《午夜牛郎》那樣將吉他扛在肩上,穿過城市的街道。」

Half a century later, he can afford plenty of guitars. Last month Sony,

which now owns Columbia, announced that it acquired Springsteen's entire

body of work — his recordings and his songwriting catalog — for what two

people briefed on the deal said was about $550 million.

半世紀後,他買得起很多吉他。擁有哥倫比亞的索尼音樂上個月宣布,收購史普林斯汀的全部作品,他的唱片和創作曲目。兩位知情人士透露,這樁交易的價格約為5.5億美元。

The price, which may be the richest ever paid for the work of a single

musician, caused jaws to drop throughout the music industry. But it was

only the latest mega-transaction in a year in which many prominent

artists' catalogs have been sold, fetching eye-popping prices.

這可能是有史以來向單一音樂家作品支付的最高價格,讓整個音樂產業大吃一驚,但這只是一年中許多知名藝人出售歌曲曲目的最新一樁大型交易,獲得的價格令人咋舌。

The catalog market was already bubbling a year ago when Bob Dylan sold

his songwriting rights for more than $300 million, but since then it

has maintained a steady boil. The list of major artists who have recently

sold their work, in full or in part, includes Paul Simon, Neil Young,

Stevie Nicks, Tina Turner, Mötley Crüe, Shakira and the Red Hot Chili

Peppers, many for eight-figure payouts or more. The industry is abuzz

about impending deals for Sting and the songwriting catalog of David

Bowie.

一年前,當巴布狄倫以超過3億美元價格賣出他的創作權時,音樂曲目市場已開始出現榮景,此後熱度一直不減。最近將作品全部售出或部分售出的主要藝人名單包括保羅賽門、尼爾楊、史蒂薇妮克絲、蒂娜透納、克魯小丑樂團、夏奇拉及嗆辣紅椒樂團,很多價格都高達八位數或是更多。業界正對史汀和大衛鮑伊歌曲的創作目錄即將達成的協議金額議論紛紛。

"Almost everything now is transacting," said Barry M. Massarsky, an

economist who specializes in calculating the value of music catalogs

on behalf of investors. "In the last year alone, we did 300 valuations

worth over $6.5 billion," he added.

專門為投資者計算音樂曲目價值的經濟學家巴瑞.馬薩斯基說:「現在幾乎所有東西都在進行交易。光是去年一年,我們就進行了300筆估價,總值超過65億美元。」

Not long ago, music was seen as a collapsing business, with rampant

piracy and declining sales. No longer.

不久前,由於盜版猖獗和銷量下滑,音樂被視為一個崩潰中的產業;現在情況不再是這樣。

Streaming and the global growth of subscription services like Spotify,

Apple Music and YouTube have turned the industry's fortunes around.

One result is a spike in the pricing of catalogs of music rights to

both recordings and to the songs themselves.

串流服務與Spotify、Apple Music和YouTube等全球訂閱服務成長,已經扭轉該產業的命運,結果使得唱片和歌曲本身的音樂版權曲目價格飆漲。

New investors, including private equity firms, have poured billions of

dollars into the market, viewing music royalties as a kind of safe

commodity — an investment, somewhat like real estate, with predictable

rates of return and relatively low risk.

包括私募股權公司在內的新投資者,已經向這個市場投入數十億美元,他們將音樂版稅視為一種安全商品,有點像投資房地產,投資報酬率在意料中且風險相對較低。

 
Air Filters and Outdoor Spaces: Office Costs Rise as Workers Return 員工回歸 辦公室支出增加
文/Julie Weed
譯/莊蕙嘉

員工回歸 辦公室支出增加

The cost of office maintenance dropped significantly in the pandemic when

workers went remote, as companies saved money on services like cleaning

and security, as well as perks like dry cleaning and endless pantry

snacks.

疫情期間當員工遠距上班時,辦公室維護的費用顯著減少,在清潔和保全等服務,以及乾洗衣服和無止盡的架上零食方面,公司省下了錢。

But as employees begin to head back to the office, the cost of running the

workplace is increasing.

但是當員工開始回歸辦公室之際,維持工作場域的花費也在增加。

By December, about 40% of workers had returned at least part time, although

the omicron variant of the coronavirus has put a chill on return-to-office

plans. And developers still expect that employees will be back on site in

the long run, even if hybrid work becomes more common. CP Group, which owns

and manages 32 office buildings, mostly in the Southeast and Southwest,

has bought $1.2 billion of office space since May, a wager that staffs will

return.

迄12月時,約四成勞工至少部分時間已回到辦公室,雖然新冠病毒Omicron變異株已影響回歸辦公室計畫。而開發商仍然期待,長期下來員工將返回工作場所,即使混合工作型態愈來愈普遍。擁有並管理32棟辦公大樓,多數位於東南部和西南部的CP集團,去年5月以來已買下價值12億美元的辦公空間,賭的是員工會回來。

More robust air filtration and newly installed outdoor spaces are among the

items that will add to developers' costs when more employees return. New

cleaning practices may make those services more expensive, and landlords

are offering new amenities to lure tenants back.

當更多員工回歸之際,更強力的空氣清淨器和新裝設的室外空間,都在增加開發商花費的項目中。新的清潔方式可能讓這些服務更貴,房東也提供新的便利措施以吸引租戶回流。

"Operating expenses were down a bit in 2020," said Kristin Mueller, chief

operating officer for property management at JLL, a real estate services

company that oversees more than 1,000 office buildings across the United

States. "For 2022 properties budgets, we are anticipating modest overall

increases."

「營運支出在2020年有些微減少」,在全美各地管理超過1000棟辦公大樓的房地產服務公司JLL,物業管理營運長克莉絲汀.穆勒說,「關於2022年的預算,我們預期會有適度的整體增加」。

The cost to run the office today remains lower than pre-pandemic levels

but not as significantly as many managers expected, because each savings

area has a factor that can complicate or offset it, Mueller said.

穆勒說,今日維持辦公室的費用水平仍比疫情前低,但未如許多經理人預期的顯著,因為每個能省錢的方面都有個會變複雜或抵消的因素在。

Having fewer employees on site translates to less daily cleaning and trash

collection, for instance, but those reduced janitorial services are often

countered by directives for deep disinfecting, as well as higher labor

costs for maintenance. And spending on supplies like coffee filters,

pens and paper towels may be down, but they have been replaced by

purchases like hand sanitizer and masks.

舉例來說,辦公室較少員工意味著較少的每日清潔和收垃圾,但這些減少的清潔服務常常和深度殺菌的指令衝突,以及更高的維修人力費用。而且,花在咖啡濾紙、筆和紙巾等日用品的費用可能減少了,但是它們被購買乾洗手和口罩取代。

Because the coronavirus is spread through airborne transmission, one of

the most significant changes in building operation has been a focus on

air quality. Many companies are scrutinizing their ventilation, which

could involve installing more robust air filters to screen out virus

particles, for example, or replacing the building's air more frequently.

因為新冠病毒透過空氣傳播擴散,大樓營運最顯著的改變之一就是著重空氣品質。例如,許多公司檢查他們的換氣系統,其中可能包括裝設更強效的空氣濾網,擋住病毒分子,或是更頻繁的讓大樓換氣。

 
訊息公告
 
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疫情會終結全球化嗎?病毒竟讓中產階級竟成了全球化浪潮的犧牲者?
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