#19: David Bowie and the Financialization of Future Royalties (Bowie Bonds introduced: 1997)
David Bowie revolutionized entertainment finance by creating what became known as “Bowie Bonds,” securities backed by the future royalties from his music catalog. This innovative financial structure allowed him to receive substantial immediate funding while maintaining long-term ownership of his creative assets. The model demonstrated that intellectual property could function as an investment vehicle similar to traditional financial assets. Numerous artists and investors later adopted comparable strategies using music, film, and publishing rights. Bowie’s innovation permanently changed how creative catalogs are valued within financial markets.
