23/04/2009 - Kobalt Music Group Wins Independent Music Publisher of the Year
Kobalt Music Group (Kobalt), leading global independent online music publisher, was awarded Independent Music Publisher of the Year at the 2009 Music Awards held recently in London.
The winner of the award is determined by market share of the top 50 selling albums and top 100 singles of 2008 in the UK.
The award tops off a recent string of successes by the company including new deals solidified for the publisher to represent Kelly Clarkson, Kid Rock, Nate "Danja" Hills and Nat Geo Music, a division of National Geographic Entertainment.
In March, Willard Ahdritz, CEO and Founder of Kobalt, revealed that it had revenue collections of over $50 million USD in the coming 12 months with growth projections exceeding $75 million USD for the next 12 months.
Ahdritz said, "Kobalt has no debt, has been cash flow positive for four years, and is forecasted to be profitable in 2009."
Ahdritz attributes Kobalt's tremendous surge in business during an overall music industry downturn to the multiple revenue streams in copyright collections, solid management and creative services, and the growing reputation of Kobalt's proven transparency and technologies.
Positioned as an "alternative" to the traditional music publisher, Kobalt's client base has nearly tripled in three years and attracted top global artists, songwriters, producers, music publishers including Gwen Stefani, Tony Kanal of No Doubt, Ryan Tedder, Dr. Luke, Moby, Desmond Child, and Max Martin, among hundreds of others.
SOURCE: Kobalt Music Group