Kobalt Music Group has received $115 million in funding. The investors in this round were not named although the firm’s existing backers include Balderton Capital and Michael Dell’s private investment firm MSD Capital. Kobalt is a music services company.
London, UK (5 June 2014) – Following MSD Capital, L.P.’s recent $25 million equity investment, Kobalt Music Group today announced that its investment subsidiary, Kobalt Capital Ltd., has raised a further $115 million in expansion capital. The combined total of $140 million in additional capital will allow Kobalt to further accelerate its already rapid growth.
Kobalt’s technology platform allows artists and writers transparent, accurate and timely management of their rights. Clients today include Paul McCartney, Disney, Dr. Luke, Max Martin, Dave Grohl, Maroon 5, Skrillex and Ryan Tedder amongst some 2000 others. Today, Kobalt manages the rights of over 600,000 songs.
This roster has established Kobalt as the leading and fastest growing independent player in the music industry. Its rapid growth is based upon Founder & CEO Willard Ahdritz’s belief that technology will define the winners in the music industry.
Mr. Ahdritz noted: “Content today is splintered into billions of micro transactions. To manage, match and statement such a flow is extremely complex. Only with cutting edge technology and a culture of managing costs can we ensure that our clients’ content is maximized. Today, for example, Kobalt has full integration with all YouTube UGC and original content, processing over a billion views per month.”
Mr. Ahdritz further stated: “The increased capital, which comes from long term investors supporting Kobalt’s growth, is going to help the company build on its success by providing its artists and songwriter clients with access to new capital. It will also be used to expand and further develop our technology platform, which is already the fastest and most efficient way to manage copyrights and royalties.”
Existing investors in Kobalt include Balderton Capital, MSD Capital (the private investment firm for Michael Dell), and selected private family offices.
About Kobalt Music Group
Kobalt Music Group (Kobalt) is the leading global independent music services company, offering music publishing, label services and neighbouring rights services worldwide. Kobalt provides its clients with unparalleled transparency, online copyright administration and royalty tracking, including a real-time online portal, creative and synch/licensing services, weekly online balances, digital collections and advances to writers, publishers, performers and other rights holders.
With 210 employees in offices in London, New York, Los Angeles, Nashville, Atlanta, Berlin, Sydney and Stockholm as well as agents in over 20 major territories, Kobalt administers more than 600,000 songs on behalf of content holders, including the world’s top songwriters, artists and other music publishers. Kobalt counts among its clients Paul McCartney and MPL Communications, Disney Music Group, Max Martin, Dr. Luke, Dave Grohl, Lady Antebellum, Stevie Nicks, No Doubt, Ryan Tedder, Maroon 5, Kelly Clarkson, Skrillex, the Miles Davis catalog and Herbie Hancock among many others.
In 2013, Kobalt Music Group was honored as the first ASCAP Publishing Administrator of the Year. The company also received its sixth consecutive award for Independent Publisher of the Year at the Music Week Awards (UK).