Canadian Bacon

The story that the Canadian pension fund CPP has invested £600m into motorsports rights in a week where everyone was focused on Windows' new 9/Surface launch and the introduction of the iPad mini is pretty important in my view.

Investment in hardware is precarious, with the exception perhaps of behemoths Apple and Samsung; investment in software is pretty hit and miss, but content seems to have prevailing value, even in an era of rampant piracy.

I suspect that this is the first in many deals that will be made around the rights market. The music industry is already famous for stars selling the future rights of their publishing assets, and TV and film are likely to go the same way. Even more so, content brand rights will become even more valuable as more ordinary brands seek their halo effects - they will inflate the price of 'cool' brands to infuse their own shampoos, washing powders and beers with some 'magic'.

So, there's some alchemy in that there Canadian Bacon. How much will soon become apparent. But, let's face it, it's a better bet than sub-prime ever was..