Springsteen’s Music More Alluring Than Real Estate for Eldridge

Eldridge Industries’ president said investing in music rights can generate cash flow similar to real estate, but without the hassle.

Tony Minella compared the $70 billion asset manager Eldridge’s purchases of stakes in catalogs from Bruce Springsteen and the Killers to real estate, saying they generated strong income without the work needed for owning property.

“You don’t need to do tenant improvements, you don’t need to maintain a building, you have a catalog that you can rerecord, you can go out and do endorsements and they’ve performed extremely well for us,” Minella said at the Milken Institute Asia Summit ...