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Spek's thesis about emerging markets being the source of the next global hits makes a lot of sense when you consider how Spotify and YouTube have completely democratized music distribution. What's impressive about PopArabia isn't just competing with Sony, Universal, and Warner - it's building the infrastructure (rights management, royalties collection, publishing) that simply didn't exist for the Arab world and South Asia at scale. The fact that Reservoir saw enough value to make them part of a billion-dollar group validates that there's real business here, not just cultural aspiration. The roster mix is smart too - having established stars like Nancy Ajram and Mohamed Ramadan alongside Western acts like JID shows they understand both local dominance and crossover potential. Most major labels still treat emerging markets as licensing territories rather than creative centers. If PopArabia can capture even 10-15% of the value being created in those regeions while artists retain more control and better economics, that's a huge win.

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