MI2N
Music Industry News Network
TUESDAY, JULY 28TH
Advanced Search
MusicDish Advertising Network
Subscribe to Mi2N's Free Newsletters B2N (business) i2N (indie)
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

IES Rock Honors Set To Induct Icons Lemmy & Motorhead, Slash, The Ramones & The Runaways

Gypsy Funk, Twenty-Seven Songs And A Bucket

Mirage Box Release Follow Up Single Last Beautiful Woman

825 Records Releases Kerchief's Debut Album "Machines And Animals"

I E S 1 5 - The Indie Entertainment Summit For 2015 Is All Set For August 5-8 In L.A.


SplashFlood Launches New Talent-Based App To Help Artists Promote Their Music

Number 1 ITunes World Artist Breaks The New Age Barrier

Liza Fox Reveals Bipolar Disorder In "I Am Not I" Music Video



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» RMLC Voluntarily Withdraws Its Antitrust Lawsuit Against SESAC
» The Future Of Music Is The Experience
» Blachawk Records Signs Pop Artist Ravoshia
» Rap Duo Conceptz Two In A Row On Billboard Charts
» New York’s Radiotheatre Comes To Seattle’s Puget Sound FM
» Peggy Still Johnson, Brian Hudson And Steve Sidman Named Advisors Of Georgia Music Partners
» Universal Music Publishing Group Announces Major New Features In Royalty Window Online Account Portal
» City Parks Foundation Presents Summerstage 30th Anniversary Season
» AMSS 'JAYMEL' BRINGS SUMMER VIBES TO INDIA'S MORIOR INVICTUS
» Mocean Worker, Ursula 1000 Sign With Superior Music Publishing


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

Articles
MUSICDISH E-JOURNAL
» New Island Entertainment Presents A F8ckin Birthday Extravaganza At Santos Party House
» MusicDish*China Booking (Snow Mountain), DDC, NAMM Musikmesse Russia And NMS
» 365 Days From Dusk Till Dawn: DDC 1 Year Anniversary Program
» The Challenges Of Learning How To Play Drums
» Blue Note Entertainment Group Further Expands East With New Venue In Beijing
» From North Korea To NYC - Shanghai DJ B.O Spins Libation & Leftfield
» Bay Area Chinese Music Association Presents Second Hand Rose West Coast Show
» Cooking Vinyl's Martin Goldschmidt Calls For Direct Tax Breaks For Music
» Strong Opportunities For International Tech Manufacturers Among Chinese Consumers
» New Island Entertainment Presents Second Hand Rose @ New York's Santos Party House
» MusicDish*China Tours, Signing, NYCxDesign And Planetrox
» Award-Nominated DJ Soulier Performs At Beijing's Award-Winning DDC

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 © 1997-2015 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.