What we look at.
We have not funded a deal yet, so we show the work that comes first. These cards come from one set of distributor statements, anonymised. They show how we price, and what we refuse.
Evergreen catalogue
Gross up 10% from March to October. A Kurdish and Turkish cluster at $1.02 per 1,000 streams, 24% of the sample. It does not fade like a hit.
Local beats global
Italy's share of sample gross in seven months. US streams fell 50%. Geography moves the price per stream, so we price by country.
The decay curve
March releases earned 46% less by October. Hits fall about 14% a month for three months, then about 5%. We size on trailing income, never the peak.
What we left out
One cluster holds 89% of the Tidal streams in the sample, with patterns we cannot explain. We do not advance against it.
One distributor, eight statements.
| Statements analysed | 8, March to October 2026 |
| Gross, 8 statements | $84.6k |
| Run-rate | about $18.8k a month |
| Artists / tracks | 810 / 8,147 |
| Top 10 artists | 64% of gross |
| Deducted before payout | 11.3% of gross |
Artist and label names are removed. Amounts are in US dollars as reported. This is a pipeline sample, not a funded portfolio and not a prediction of returns.
Frequently asked questions
What is this page?
An anonymised sample of our pipeline that shows how we price and what we refuse. It is not a track record.
How many statements did you analyse?
Eight statements, from March to October 2026.
What do you refuse to fund?
For example, a group that concentrates 89% of the sample's Tidal streams with patterns we cannot explain. We do not advance against it.
Apply for details.
Tell us who you are. We will contact you when the full offering opens, by 10 January 2027. Family offices, private credit funds and qualified investors.
Prefer email? Write to apply@sonorcapital.com
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