Kobalt Continues Rapid Growth
Kobalt today reported that its gross collections grew by 30% to $494M in the fiscal year-ending June 30, 2018, and the company expects continued growth to over $600M in gross collections the fiscal year- ending June 30, 2019. The company’s global headcount grew from 376 to 515 employees during that same fiscal year and has since expanded in Canada, to further support its roster across the globe.
“We’re outpacing the industry in terms of growth,” said Willard Ahdritz, Founder & CEO of Kobalt. “We’ve been laser-focused on building out the global team to support the rapidly growing music industry and setting up creators for success. We’ve established ourselves as the technology leader in the industry, and we are deeply investing in building innovative new products and services across the music ecosystem to super-serve our roster, across publishing, recordings, collections, neighbouring rights and synch. We are very excited by the rapid growth of AWAL, our recordings business, which achieved growth of over 50% in the last fiscal year and is anticipated to continue a similar growth rate this year. Through its unique multi-tiered model, AWAL is designed to serve artists at all stages of their careers on a scalable platform.”
Creators Joining Kobalt
In the past year, Kobalt continued to stake its claim as one of the world’s leading music companies by adding acclaimed talents such as Childish Gambino, Marshmello, Ozuna, Enrique Iglesias, among others to its publishing roster, while supporting billions of streams for its global and break-through artists such as Lauv, Madison Beer, Nick Cave & The Bad Seeds, Omar Apollo, Tom Misch, Rex Orange County, among others, on AWAL.
Ahdritz added, “Our growth over the past couple years is largely attributed to this focus on the creators. No one is making more investments in building services and products to help creators, and we don’t see any end in sight for our growth. The next year will be even better and we look forward to further building out the new music industry structure creators and rights holders deserve.”
Kobalt is a music and technology company built for artists, songwriters, publishers and labels as an alternative to the traditional music business model. Kobalt’s commitment to technology, transparency, and creators’ rights has driven tremendous growth year-over-year for the company and its clients. Today, Kobalt’s Music Publishing, Neighbouring Rights, and AWAL divisions serve over 25,000 songwriters, 600 publishers, and 20,000 independent artists, including Childish Gambino, Miles Davis, Dave Grohl, Enrique Iglesias, Lauv, Lorde, Zayn Malik, Bob Marley, Marshmello, Max Martin, Paul McCartney, Elvis Presley, The Weeknd, and many more. Kobalt represents on average over 40% of the top 100 songs and albums in both the US and UK.
Kobalt’s global technology platform tracks and collects royalties for the billions of micro-payments per song in digital music today. Kobalt offers its clients a variety of services, including creative services, synch & brand partnerships, global licensing management, neighbouring rights, works and rights distribution, royalty collection and processing, the Kobalt and AWAL Portals and Apps, YouTube monetization, record release management, digital distribution and marketing. For more information on Kobalt, please contact: firstname.lastname@example.org, or visit us at www.kobaltmusic.com