{
  "docId": "019de075-d5a6-7501-a8bc-84db8e762dc3",
  "docSlug": "5b5a177477142e3b2cd38d3923cc88c7",
  "documentTitle": "Hipgnosis Songs Fund | Results Presentation Deck | 22 slides",
  "authorId": "hipgnosis-songs-fund",
  "authorName": "Hipgnosis Songs Fund",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-09-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 7,
  "pageCount": 22,
  "prevPage": 6,
  "nextPage": 8,
  "slideType": "valuation_table",
  "function": "show_valuation_bridge",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "Includes a scatter plot of vintage vs market multiple and a waterfall-style bridge for proceeds.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de075-d5a6-7501-a8bc-84db8e762dc3/7",
  "deckHref": "/decks/019de075-d5a6-7501-a8bc-84db8e762dc3",
  "deckJsonHref": "/decks/019de075-d5a6-7501-a8bc-84db8e762dc3.json",
  "deckAnchorHref": "/decks/019de075-d5a6-7501-a8bc-84db8e762dc3#slide-7",
  "components": [
    {
      "bbox": {
        "h": 0.5,
        "w": 0.45,
        "x": 0.02,
        "y": 0.238
      },
      "kind": "chart",
      "text": "Virtu Global Advisors Vintage-Based Music-Catalogue Valuation-Multiple Estimates",
      "attrs": null,
      "subkind": "scatter",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea4b65f8-b7ba-4fbf-ac84-0ac4c898927b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.45,
        "x": 0.5,
        "y": 0.238
      },
      "kind": "chart",
      "text": "Gross Proceeds to Net Proceeds bridge",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d117cf6d-7fce-4be1-901a-b071764296b4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.02,
        "y": 0.73
      },
      "kind": "source-note",
      "text": "Chart prepared by Virtu Global Advisors, LLC... Right to Income (RTI) refers to revenue accruing to HSC from 1 January 2023 to 31 August 2023.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e374d361-33c1-4037-8512-1ad08ab4f95b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.02,
        "y": 0.88
      },
      "kind": "title",
      "text": "SALE PRICE IN LINE WITH MARKET COMPARABLES",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "484ce8de-4c73-4659-8f4f-d4bd30319983",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.6,
        "x": 0.02,
        "y": 0.04
      },
      "kind": "title",
      "text": "Recent transactions support pricing",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dc721bcc-f6b0-447f-891a-f272a129ab9c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "ac941dcb-1910-4e65-a822-affd65555879",
      "evidence": "The presence of a 'waterfall-bridge: Gross Proceeds to Net Proceeds bridge' chart clearly instantiates the waterfall chart tool.",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-bridge",
      "slug": null,
      "matchId": "96e6743c-0ba8-4f02-a65b-049f516d028e",
      "evidence": "Bridge from Gross Proceeds to Net Proceeds",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 9,
      "from": 7,
      "beatId": "41ef9aa2-9e8c-4e1b-8e56-e1864c9e12ec",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck presents the proposed solution, including the sale to Hipgnosis Songs Capital and the benefits of the transaction.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 7,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "f2837486-d113-4b3a-8599-92a4e88373a4",
      "evidence": "The deck presents the benefits of the proposed transaction, including the sale price in line with market comparables and the stronger continuing portfolio.",
      "position": 1,
      "objective": "To show the benefits of the proposed transaction",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}