Kobalt are an relatively new company changing the face of the industry. Using their state of the art data-tracking technology they are able to monetise revenue from digital uses that would have been, and have historically been , unaccounted for or not passed onto artists or the proper copyright owners because of the lack of transparency within the royalties statements or because the transactions were never found in the first place. By adapting to the new digital age, they have been able to increase their revenues by “25.6% in FY 2015 to $245.1m”- their CEO, Kobalt CEO Willard Ahdritz told MBW (2015): “We are on target to double our revenue again in the next two years…I expect to be a half-billion dollar business in [FY 2017] in revenue terms. “That isn’t bought revenue, but real growth; because people come to us and love our services.”
To summarise Gray 92015) writing for Wired, Kobalt’s platform has been described as the ‘most remarkable web portal in music business history’, allowing users to track when their work is featured in adverts, streamed on any streaming site, pirated and used in a user video, played at a venue, view requests made for licensing- 700,000 separate revenue streams made available for each song and all able to be viewed and responded to at the click of a button.
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