MI2N
Music Industry News Network
TUESDAY, JANUARY 16TH
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 03-15-2014

Michael Dell's MSD Capital Invests In Kobalt

Bookmark and Share

Kobalt Music Group, the leading independent music publisher and music services company, announced that an affiliate of MSD Capital, L.P., the private investment firm for Michael S. Dell and his family, has made a significant growth capital investment in the business.

Kobalt has built the most trusted brand in music among artists by introducing a unique service model and full transparency to its clients. Kobalt's proprietary technology and global digital platform enable its clients, who include many of the world's best-known songwriters, to collect their royalties more efficiently. Kobalt's clients enjoy a significant uplift in lifetime earnings, receiving more money, much faster, from the songs they have created and recorded.

MSD Capital's commitment consists of a primary investment and also the acquisition of a stake from SPARK Ventures plc, a founding investor in Kobalt. A representative of MSD Capital will join Kobalt's Board of Directors. Balderton Capital, the leading technology venture capital investor, has also increased its holding.

Willard Ahdritz, Kobalt's Founder and CEO, said: "We are delighted to welcome MSD Capital as an investor. The backing of such a highly-respected investment firm is a statement of confidence in the strength of our business model and our growth strategy. We continue to invest in the future of the music industry, and MSD Capital's investment will assist Kobalt to continue its rapid growth."

In its most recent financial year, Kobalt's revenue grew by nearly 40%, with an outstanding client retention rate of over 98%. The performance demonstrates that Kobalt's clients - who include Paul McCartney, Max Martin, Dr. Luke, Dave Grohl, Maroon 5 - embrace the platform. In 2013, Kobalt represented writers on 25% of the top 10 singles in the US, and 40% of the top US albums. In the UK, Kobalt administered royalties for 28% of the top 10 singles, and 38% of the top albums.

Glenn Fuhrman and John Phelan, Managing Partners of MSD Capital, said: "We are thrilled to be partnering with Willard and the rest of Kobalt's world-class management team, as well as with Kobalt's existing investors. Kobalt is addressing an enormous market opportunity. Due to the digital revolution and the growth of online video and music streaming, the music industry is becoming increasingly complex. Today, a single hit song can have 500,000 separate income streams. Kobalt's technology platform was built for this exciting new world. We look forward to supporting Kobalt as it expands its service offerings and continues its impressive performance."

Michael S. Dell, Chairman and CEO of Dell Inc., added: "Kobalt is a music company backed by and built on innovative technology, and I am excited about MSD Capital's investment in the company. In addition, I am pleased to be able to support the company through Dell Inc. as a strategic technology services partner. As the music industry moves to the forefront of demonstrating the transformative power of information technology, Dell Inc. is the preferred partner supporting the growth and success of its leading companies."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

The International Music Consulting Firm GINGIO Hosts Events At NAMM And Grammy Weeks

MarilynMusic Places Five New Songs With Altino Music

Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio

For Folk's Sake Premieres Katie Garibaldi's 'Unhappy Holiday' Honky Tonk Music Video

GuitarPlayer.com Debuts Claymation Music Video For 'Star In The East' By Katie Garibaldi

Veteran Recording Artist Jerri BoKeno Rekindles Holiday Jewel "This Christmas"

The Ed Sheeran Of The Hare Krishna World: Meet Cyril Wohrer



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Spotify Makes Motion To Restrict Communication Between Wixen Music Publishing, Inc., Its Clients, And Their Attorneys
» Say Hello To Volareo: A Streaming Speaker That Pays Musicians When You Clap
» MarilynMusic Places Five New Songs With Altino Music
» VidaPrimo Debuts Latin Music Channel On XUMO
» "Whiskey And Cigarettes Show" Nominated For 2018 New Music Awards
» Reservoir Promotes Rell Lafargue To President And Chief Operating Officer
» Independent Music Magazine Indie Band Guru Launches Indiegogo Campaign
» The International Music Consulting Firm GINGIO Hosts Events At January NAMM And Awards Week
» Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio
» Runway 27, Left: Planned Release Of Third Album 'Triple Story' In Spring 2018


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» MusicDish*China Presents 'Savage Guitarist' Todd Clouser In Beijing
» Mixcloud Taps Gracenote For Advanced Music Recognition
» Copyright Royalty Board Increases Sirius XM Royalty Rate
» Lithuanian Band Grabs Bronze At The Silk Road Indie Music Festival 2017
» Live Entertainment Specialists Headliner Launch Premium Artist Booking Service
» Voice-Controlled Speakers & The Music We Listen Too
» Nordic & British Musicians' Unions' Joint Statement On Sexism In The Music Industry
» Women Make An Impact On The 2018 MPG Awards Shortlist
» The Nashville Musicians Sound Healthcare Plan Rolls Out
» Streaming & Listening Diversity - Spotify Case Study
» Two-Sides Of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2018 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.