Apollo Managing Director, Origination, Paul Sipio joins 9@9 to discuss how digital streaming reshaped the music industry, transforming it from a hit-driven model into a predictable, long-duration cash-flow business, and why that evolution unlocked new financing opportunities.

In this episode, Paul covers:

• What sparked institutional financing in music
• Why music catalogs behave like annuity-style assets
• How streaming helped create more stable and predictable cash flows
• The difference between recorded music and publishing royalties
• Why platforms like TikTok are reviving legacy catalogs
• What it means to be a solutions provider, not just a lender, in music finance

Paul, alongside Apollo Partner Lee Solomon, was recently named to Billboard’s inaugural Finance 50 list, recognizing leaders deploying capital across the music industry and its supporting technology and infrastructure.