Audius Forges Global Licensing Deal with Kobalt
(LAS VEGAS, NV – September 10, 2024) - Audius, the largest decentralized music community and discovery platform for artists and their fans, announced today that it has signed a global licensing agreement with Kobalt, one of the world’s leading music publishers. The deal unlocks a new revenue stream for Kobalt’s roster of songwriters who will now have access to Audius and its powerful music marketplace, which provides a pathway for millions of music fans who regularly engage with the platform to support their favorite artists via direct U.S. dollar payments.
“As we continue to expand opportunities for songwriters and music publishers to access new revenue streams, this agreement with Kobalt is an important milestone for all of us at Audius,” said Shamal Ranasinghe, Chief Business Officer at Audius. “Kobalt has always been a very progressive, tech forward company, and we’re excited to begin working with them and their incredible roster of songwriters.”
Earlier this year Audius announced that it had forged pivotal deals with the world’s top performing rights organizations: ASCAP, BMI, SESAC, and GMR.
“Audius has made important strides in their business that have the potential to increase the overall revenue available to songwriters by helping them connect meaningful ways directly with their most passionate fans,” said Derek Cournoyer, Vice President, Global Digital Business & Emerging Media at Kobalt. “We’re excited to have our songwriters engage with the millions of users on the Audius platform.”
About Audius
Audius is a global decentralized music community and discovery platform that puts the artist in control. Audius is run by a vibrant, open-source community of artists, music fans and developers from all over the world and is powered by its own crypto token, $AUDIO, which makes it possible for artists to retain control of how their work is distributed and creates new revenue streams for them and other rights holders around the sharing of their music. With 6 million unique monthly users, Audius is one of the largest decentralized applications in the world. Sign up today at https://audius.co.
About Kobalt
Kobalt Music is the leading independent music publishing destination for songwriters and publishers, powered by technology. Across 13 global offices, Kobalt serves over 700,000 songs, representing some of the biggest songwriters in the world, including Roddy Ricch, Max Martin, Karol G, Andrew Watt, Stevie Nicks, Phoebe Bridgers, The Lumineers, Gunna, Justin Quiles, The Foo Fighters, Paul McCartney, and many more. On average, Kobalt represents over 35% of the top 100 songs and albums in the US and the UK. With a relentless focus on advancing the interests of creators, Kobalt leverages cutting-edge technology to streamline the complex processes of music publishing administration. The company's dedication to transparency, coupled with its forward-thinking approach, has positioned it as a trusted partner for songwriters and rights holders navigating the ever-evolving music industry.
Contacts
John Vlautin
SpinLab Communications
Jill Mango
SpinLab Communications