How much did AWAL sell for?
LLONDON — U.K.’s competition watchdog fully cleared Sony’s acquisition of Kobalt Music Group’s independent distribution and label division AWAL on Wednesday (March 16), following an eight-month probe into the $430 million deal.
Who bought Kobalt Music?
KKR & Co
Oct 19 (Reuters) – Private equity giant KKR & Co (KKR. N) and former Goldman Sachs (GS. N) partner Stephen Hendel’s family office have bought Kobalt Capital’s music rights portfolio for about $1.1 billion, the companies said on Tuesday.
Who bought AWAL?
Sony Music
On Friday (February 11), MBW broke the news that the UK’s competition watchdog – the Competition and Markets Authority – had provisionally cleared Sony Music’s $430 million acquisition of AWAL from Kobalt Music Group.
How much did Sony buy AWAL for?
a $430 million
Sony Music acquired UK-headquartered AWAL as part of a $430 million acquisition from Kobalt Music Group that closed in May last year. The agreement also saw Sony acquire Kobalt Neighbouring Rights.
When did Sony buy AWAL?
May 2021
Sony first initiated the over $430 million buyout of the label beginning in May 2021 and battled international competition, specifically in the UK, following the initial buyout.
How does Kobalt make money?
Kobalt collects royalty money directly from services such as Spotify, iTunes, YouTube and dozens of collection societies, cutting out the middlemen in many cases, and claiming to earn clients, on average, some 30 per cent more than they would have normally received.
Who runs Sony Music?
CEO Rob Stringer
Sony Music Entertainment (SME or ‘Sony Music’) is the New York-based recorded music company fully owned by Japan’s Sony Corporation. Run by CEO Rob Stringer, Sony Music counts brands such as Epic Records, Columbia Records and RCA within its frontline label family.
Is AWAL a good distributor?
AWAL is an excellent choice for artists who are already somewhat established and have a track record of consistent quality. Since you have to be accepted into AWAL, make sure to understand exactly what they are looking for in an artist.
What percentage does AWAL take?
a 15%
We take a 15% share of revenue that we collect for you. There are no additional fees for distribution and no upfront or annual fees for uploading or storing your release with AWAL. If funding or an AWAL Recordings partnership is offered we will work out a deal customized to your unique trajectory and needs.