GREECE (CelebrityAccess) – Sony Music Entertainment (SME) has acquired Cobalt Music, one of Greece’s top independent music labels, signaling the re-establishment of Sony Music Entertainment Greece. This acquisition strengthens SME’s global reach and commitment to expanding into fast-growing international markets.
Founded in 1957, Cobalt Music has played a vital role in the Greek music industry, developing popular local artists and delivering numerous chart-topping hits. With this acquisition, Cobalt’s artists and catalog will now benefit from Sony’s extensive global distribution network and technological expertise. SME aims to preserve Cobalt’s legacy while creating new opportunities for Greek talent to reach a global audience.
Anna Maria Antippas has been appointed managing director of Sony Music Entertainment Greece. With nearly two decades of experience in the Greek music industry, she is poised to lead the company’s efforts to support local artists and expand their reach internationally.
Daniel Lieberberg, president of Sony Music Continental Europe and Africa, emphasized the potential of the Greek market, saying, “We see enormous potential in the Greek market, which has a rich musical heritage and vibrant contemporary scene. By acquiring Cobalt Music, we aim to provide even more opportunities for local artists to thrive.”
Antippas echoed this enthusiasm, stating, “I am honored to lead Sony Music Entertainment Greece…This enables us to leverage Sony’s global platform while continuing to champion the rich cultural heritage of Greek music.”
The Greek music industry is experiencing significant growth, with recorded music revenues reaching $70.4 million in 2023, a 14.91% increase from the previous year. Streaming is the primary driver, accounting for 63.1% of total revenues, while sync revenues have surged by 49.4%. All of Greece’s Top 10 tracks in 2023 were by local artists, underscoring the strength of domestic music.
