Kobalt Invests $150M In AWAL To Help ‘Thousands Of Emerging Artists’
[UPDATED] Kobalt announced today that it is investing $150 million in its AWAL independent artist and label services division to better serve its growing roster. Kobalt is also combining all of its recording business under the AWAL brand.
____________________________________
Artist and label services firm AWAL is hiring 100 new staff members and boosting its technology offering thanks to a $150 million injection from parent company Kobalt. Artists including Lauv, Bruno Major, Tom Misch, Nick Cave & The Bad Seeds, R3HAB, The Wombats and VÉRITÉ have found success as independent artists with help from AWAL, while retaining their music rights.
AWAL services include digital distribution, music-data insights, funding, global marketing, A&R and promotion.
We’re leveling the playing field,” said Kobalt Music Founder & CEO, Willard Ahdritz. “For too long, artists have had to go through the gatekeepers to make a living out of music. Today, artists can build a career without the hangover of a traditional label deal. Hundreds of artists on AWAL are making over $50,000 a year and many earn in the millions without signing away their rights. We are also helping dozens of other independent labels do the same for their artists.”
“To be able to help all of these artists, you need to understand what level of support and capital artists need at what stage in their career — so they can continue to rise," added AddeAWAL CEO, Lonny Olinick. "Through our tech platform and global team with deep industry experience across the globe, AWAL is in a unique position to support both the rising stars and global superstars.”
New Tech
Today, the company also announced an update to its AWAL App with enhanced financial data, along with a separate new music analytics platform, which will both be shown at this year’s SXSW:
- Enhanced AWAL App Financials – The AWAL App will now include detailed royalty income broken down by artist, track, streaming service, country, and more. AWAL members will be able to compare their financials across Apple Music, Spotify and YouTube.
- AWAL Analytics – The AWAL Analytics platform provides a deeper dive into an artist’s data analytics across Apple Music and Spotify. Artists, managers, and independent labels will have a comprehensive window to see the impact of their music, helping them make smarter business decisions.
