Net publishers' share multiples
Most catalogue deals are quoted as a multiple of NPS (net publishers' share) — the recurring annual income after collection costs. In 2026, frontline writer catalogues trade at 12–18x NPS; legacy catalogues trade at 18–25x; iconic catalogues with brand utility trade north of 30x.
Decay curves matter more than peaks
- Year 1–3 decay rate (how fast the spike falls)
- Year 4+ baseline (the sustained income)
- Sync placement frequency over the prior 3 years
- TikTok virality risk-adjusted (one-hit catalogues discount heavily)
Clean rights are non-negotiable
- Every track has documented master and publishing chain of title
- All collaborator splits are signed and registered with PROs
- Sample clearances are paid up and on file
- No outstanding disputes or pending litigation
Buyers want defended catalogues
The bid premium in 2026 goes to catalogues with active rights protection on file. Buyers will pay more for a catalogue running OneKindMedia's catalogue protection than for an undefended one of the same income — because the defended catalogue won't bleed value to UGC re-uploads in year two.