Page 15 - Duff McKagan Case Study

McKagan has always had a work ethic and an image of someone who
follows through. These combined with his own history and experience

gained from his column in ‘Duffonomics’ where he advised bands that
for example:

"When the record company pays you an advance, it is
just that – an advance. And it's at worse rates than any
bank would charge you to pay them back. Plus they'll
charge you for all kinds of crap you don't ever see."

helped crystallise the idea that the music industry needed help.

McKagan thought he understood why so many musicians ended up
broke. Basically no one told them the hard truths that the guaranteed
money may stop coming in, that the ‘window’ on earning is probably only

between three and five years and that they need to trim their spending
and develop a plan for the future.

The music industry was already well populated with wealth management

companies ranging from small boutique firms to large banks, who cater
to high net worth individuals like musicians. But for McKagan there was
a gap in the market provision, one that he was uniquely qualified to fill.

He after all had been on both sides of the “us” and “them” spectrum.
Consequently, in October 2011, Meridian Rock Capital Management,

was launched, gear towards musicians.