Disney Jr, NCT Dream, + more - Songwriting Royalties

Two global audiences pay this catalog every quarter. In the US, a Disney Jr programming block runs a theme song called "Let's Play" through cable, network airings, and Sirius XM's family channels. In South Korea and Japan, K-pop fans stream and see live performances of "Blue Wave," a 2024 release from NCT Dream. And behind them, growing sync placements on Netflix's XO, Kitty and cable series like Bronx Beat add a third income stream. Three unrelated audiences, one asset.

The catalog earned $8,725 in the last twelve months, up 41% year over year. Most of that jump is one event: a $3,267 Disney catch-up in Q3 2025 that bundled a stretch of network airings into a single payment. Adjust it out and the underlying run rate is closer to $5,500 versus $6,200 the year before — a small softening as "Blue Wave" comes down from its debut peak and newer placements grow into the gap. The regular Disney Jr sync still pays about $300 a quarter on its own.

What sets this catalog apart is how the money arrives. TV/Film sync earns 46% of the LTM, streaming 28%, satellite radio 13%, and live 10%. Strip out the Disney catch-up, and it balances further: streaming 45%, satellite radio 20%, live 16%, TV/Film 14%. Geography splits 61% US, 22% South Korea, 10% Japan, with the rest across roughly two dozen other countries. Very few catalogs earn from Disney Jr in Kansas and a K-pop concert in Osaka in the same quarter.

The top two tracks earn 87% of the LTM, "Blue Wave" is down 36% from its 2024 peak, and the Disney anchor rests on a single broadcaster relationship. Below that, though, the tail is doing real work: "Up and Away" is earning growing royalties from XO, Kitty as Netflix pushes the show internationally, and "Freedom" ran up more than twenty-fold on placements in Bronx Beat and Yankees Magazine.

For an investor, this is a bet on two long-lasting income streams. The Disney Jr placement adds up quietly through re-airings, retransmission fees, and periodic catch-ups. "Blue Wave" follows the familiar K-pop path: a peak year, then years of steady streaming and live income across Asia. Price should reflect Blue Wave's softening and the top-two concentration, but the mix beneath — sync, streaming, satellite radio, and live across three continents — gives the catalog a diversified base, with the Netflix placements as upside on top.

The songs group into three income drivers, plus a deeper R&B and hip-hop tail.

"Let's Play" is placed inside Disney Jr programming. It began earning in mid-2024 and has paid every quarter since. Children's-programming syncs have a distinctive profile: airings repeat inside broadcast schedules for years, and periodic Disney reconciliations add lumpy but meaningful payments on top of the regular flow.

"Blue Wave" is a 2024 NCT Dream release. NCT Dream is one of SM Entertainment's flagship groups and a consistent chart presence across Asia, and the track continues to appear in televised music-show performances and live sets across the region.

"Up and Away" earns from placements in Netflix's XO, Kitty, the K-drama set in a Seoul boarding school. "Freedom" is a smaller but rapidly growing sync line, earning on placements in the automotive cable series Bronx Beat and in Yankees Magazine.

Below those, roughly three dozen R&B and hip-hop tracks fill out the catalog. Songs like "Look at How Far I've Come," "Swerve," "Need My Girl Back," "I'm On It," "Old Thing Back," "Expensive," "Liquor," and "Swole" contribute recurring streaming and radio income — "Liquor" alone logged over 2.3 million reported streams in the LTM.

Earnings Note. The 2025Q3 spike of approximately $3,800 is from Disney and Disney Junior network TV performance royalties on "Let's Play," the Disney Junior series theme written by the seller and released in July 2024. Any similar payments in the future will be payable to the buyer.