Kobalt Music Group CEO Willard Ahdritz is stepping down from the company. He will assume the post of chairman for the business, and Laurent Hubert will take over as the top executive. Continue Reading
Kobalt announced that it secured gross collections of $494 million in its latest fiscal year. The total marks a 30% increase for the period ending June 30, 2018. It anticipates continued growth and projects the current year to end with gross collections of $600 million. Continue Reading
Kobalt Music Group is in the process of raising its largest funding round yet. KMG is the parent organization behind Kobalt Music Publishing, Kobalt Neighbouring Rights, recorded music operation AWAL and collection society AMRA. Continue Reading
AWAL, the artist services company owned by Kobalt, announced plans to open an office in Canada. The new location in Toronto is currently hiring for several positions. The office is scheduled to open in early 2019. Continue Reading
Digital music services company Kobalt announced that it has hired Rian Liebenberg as its new chief technology officer. He joins the business after holding several officer posts at Schibsted ASA and Schibsted Media Group. Continue Reading
Kobalt’s AWAL recorded music division has acquired in2une Music, a multi-format radio promotion specialist for indie artists and labels. The company, which also offers services in playlisting, social & digital strategy and campus promotion, has been used by breakout performers such as Chance the Rapper, Lindsey Stirling, and Major Lazer. Continue Reading
Label services company Kobalt has made a big investment in independent artists. It has combined its recording business under the AWAL brand and is putting $150 million into marketing and advances for indie performers. AWAL is also hiring 100 more employees, about doubling the headcount under Kobalt’s umbrella. Continue Reading
Facebook is soldiering on with its music industry deals. Head of Music Tamara Hrivnak penned a blog post announcing multiple arrangements with songwriting and publishing outfits. Continue Reading
Kobalt has signed a music licensing deal in China with NetEase Cloud Music. This arrangement will see the Chinese company take responsibility for licensing and distributing the Kobalt catalog and for the catalog of its AWAL recorded music operation. The deal covers more than 600,000 songs and recordings. Continue Reading
Music rights management company Kobalt has raised Series D financing of $14 million. The round came from Section 32, a VC fund from former Google Ventures head Bill Maris. Maris will join Kobalt’s board of directors as a result of the investment. Continue Reading
Rights management company Kobalt Music Group has raised $75 million in a Series D funding round. The Hearst Entertainment media conglomerate led the financing, and existing Kobalt backers Balderton Capital and MSD Capital also participated. Continue Reading
Rights administration specialist Kobalt Music Group has announced some updates to its top leadership. First, Richard Sanders has stepped down as the company’s president and chief revenue officer. Laurent Hubert, who heads the company’s platform and investments team, will be replacing Sanders. Continue Reading