The Bag
Nathan McCartneyA newsletter breaking down the business and economics of artists, entertainers, and labels.
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 25 | Founded | 4 years ago | Last Issue | a month ago |
| Active | |||||
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thebag.substack.comLatest Issues
Five earnings calls. One picture.
The past few weeks have been filled with earnings calls from the publicly traded music companies. Sony reported their 2025 full-year results. Live Nation, UMG, and Spotify reported Q1 2026. WMG reported Q2 fiscal 2026. Different companies,...
Owners change. Formats change. Platforms change. Lucian Grainge hasn't.
The Roundhouse in Chalk Farm is a Victorian engine shed that spent most of the twentieth century being repurposed: a gin warehouse, a storage depot, an experimental theatre, before London’s punk scene found it in the mid-seventies and made...
First Week Sales in Music: The Most Misleading Stat, Label Shakeups, Wartime CEOs, and the NFL’s Billionaire Owners
The Bag is Back
It’s been a while since I published. I’m grateful to everyone who stayed locked in and kept supporting.
The Bag started during Covid as pure curiosity. I wanted to know how the music business really works. The deeper I w...
Streaming Kingpins: How Drake, Daniel Ek, and Sir Lucian Grainge Make Each Other Rich
“I got enemies, got a lot of enemies…” ~ Drake “Energy”
The music industry has been buzzing since March 2024, when Metro Boomin and Future dropped “Like That,” featuring a fiery verse from Kendrick Lamar that sparked controversy, seemingly...
The Challenge is the Opportunity
Most days, I move through life on autopilot, watching my to-do list grow endlessly as I mechanically complete tasks. Even in moments of rest, I find myself mindlessly scrolling through content, emerging more exhausted than renewed.
But rec...
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Authors
The writers behind this newsletter.
Former Head of Music @verizon | Former SVP, Commerce @rocnation | Co-Founder @superphone [email protected]
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