LAS VEGAS (CelebrityAccess) – Audius, the most prominent decentralized music community and discovery platform for artists and their fans, has signed a global licensing agreement with Kobalt, one of the world’s leading music publishers. The deal unlocks a new revenue stream for Kobalt’s roster of songwriters who now have access to Audius and its robust music marketplace. It provides a pathway for millions of music fans who regularly engage with the platform to support their favorite artists via direct U.S. dollar payments.
“As we continue to expand opportunities for songwriters and music publishers to access new revenue streams, this agreement with Kobalt is an important milestone for all of us at Audius,” said Shamal Ranasinghe, Chief Business Officer at Audius. “Kobalt has always been a very progressive, tech-forward company, and we’re excited to begin working with them and their incredible roster of songwriters.”
Earlier this year, Audius announced that it had forged pivotal deals with the world’s top-performing rights organizations: ASCAP, BMI, SESAC, and GMR.
“Audius has made important strides in their business that have the potential to increase the overall revenue available to songwriters by helping them connect meaningful ways directly with their most passionate fans,” said Derek Cournoyer, Vice President of Global Digital Business & Emerging Media at Kobalt. “We’re excited to have our songwriters engage with the millions of users on the Audius platform.”
