Debate on vertical integration and the value of songs

In recent days, a dialogue has emerged between David Israelite and Merck Mercuriadis as to the value of songs in an era of vertical integration. How has vertical integration at major music companies affected the value of a song?

Here are two links presenting opposing views on this subject in an ongoing conversation crucial to the value of music creators’ works past, present and future.

https://www.billboard.com/articles/business/publishing/9626669/nmpa-david-israelite-merck-mercuriadis-guest-op-ed/

https://www.musicbusinessworldwide.com/merck-mercuriadis-none-of-us-should-be-able-to-sleep-in-good-conscience-at-night-until-the-true-value-of-the-songwriters-contributions-to-this-business-are-recognized/