For the modern music business, the phrase “every penny counts” has never resonated more than in this current time of crisis. With the knock-on effects of Covid-19 slashing revenue streams across the board, the industry has been crying out for a figurative safe bet.

Step forward neighbouring rights, which generates income for performers and labels for the public performance or broadcast of their recordings. According to the IFPI, the sector’s value ballooned from $1.4 billion (£1.1bn) at the start of ...