Definition
Live-Attributable Market Cap
A company's float-adjusted market capitalisation multiplied by its Live Revenue Exposure, used as the weighting base instead of full market capitalisation.
- Status
- Definition in force
- Method version
- 1.0
- Reviewed
- 2026-08-22
In the Live Index framework
An index of live-music equities that weighted a diversified conglomerate at its full market capitalisation would not be measuring live music. It would be measuring the conglomerate. Live-Attributable Market Cap solves this by admitting only the portion of a company's equity value that corresponds to its measured live exposure.
The calculation has three inputs, each of which must exist before the company can be weighted: a float-adjusted share count from the company's own disclosure or the exchange record; a price from the primary listing; and a measured Live Revenue Exposure. A missing input is not substituted with a default. The company is held out of the weighting until all three are present.
The approach borrows from revenue-attribution index construction rather than from thematic screening. A thematic screen asks whether a company belongs to a theme and then weights it fully; attribution asks how much of the company belongs to the theme and weights only that. The second produces a smaller, less liquid index and a more honest one.