The launch comes as companies and investment firms have been looking for new ways to get exposure to music, including buying the back catalogues of famous musicians, as Sony did with Bob Dylan . There are only a handful of music industry stocks available to investors, such as Spotify , Warner Music Group and South Korean company Hybe. The TUNE ETF, which has an expense ratio of 0.65%, includes those stocks but also others in media and entertainment.
The correlation was determined based on a 5-year regression analysis, Umeh said. The music industry is also one area that could see significant change alongside the recent breakthroughs in artificial intelligence. Umeh pointed out that AI has already been used in parts of the industry before and could make companies more efficient, but added that it is too early to determine the long-term impact. "Up until this point, it's been a tool.
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