Kobalt Announces Unprecedented Growth in Digital Royalty Earnings Through AMRA
NEW YORK, NY – May 10, 2016 – Kobalt, the leading independent music publishing company, today announced its first quarterly collection results from Spotify and YouTube in Europe since the acquisition of AMRA, the newly formed global digital collection society. During the first three months of administering Kobalt’s digital catalog in Europe (Q3-2015), AMRA delivered a 26% increase in earnings from Spotify and a 34% increase in earnings from YouTube for Kobalt Music Publishing clients. Combined, AMRA collected 28% more money from Spotify and YouTube in Europe during that quarter.
By combining Kobalt’s technology with AMRA’s streamlined global licensing structure, collecting directly from the global DSP’s, AMRA is uniquely positioned to deliver increased transparency, efficiency and economies of scale for its clients.
Willard Ahdritz, Founder and CEO of Kobalt, said, “I’m ecstatic to share these first results with our clients. This has been my vision since starting Kobalt, using technology and a new model to drive efficiency and transparency. And these initial numbers are just for Europe - wait until we see the explosive growth coming out of so many other untapped markets around the world. There have been too many missed opportunities for creators on a global scale -- now the solution is here.”
Tomas Ericsson, CEO of AMRA said, “This uplift is exceptional both because it’s in Europe, one of the most mature markets in the world, and because it’s in addition to the already significant uplift from Kobalt’s previous partnership with STIM. To deliver a combined 28% uplift from Spotify and YouTube on top of what Kobalt has already achieved with STIM, is truly an amazing result. As well as a strong indicator of the tremendous uplift to come from the other major DSP’s and other markets around the world.”
Following the purchase of AMRA in 2014, Kobalt announced the creation of the first global, direct, digital mechanical and performing rights society. Taking an innovative approach to maximize value for music rights owners and creators in the growing digital marketplace, Kobalt established the new society to meet the needs of collections on a global scale. As such, Kobalt mandated that AMRA would effectively broaden the direct-collection capabilities for all AMRA members by setting new industry standards for efficiency and transparency.
Since announcing its official launch, AMRA successfully entered into critical partnerships with leading global DSPs including Apple Music, YouTube, Spotify, Amazon, Google Play, and many more.