KOBALT INVESTS $150M IN INDEPENDENT ARTISTS TO CHALLENGE ‘STUPIDITY’ OF TRADITIONAL MAJOR LABEL DEALS

KOBALT INVESTS $150M IN INDEPENDENT ARTISTS TO CHALLENGE ‘STUPIDITY’ OF TRADITIONAL MAJOR LABEL DEALS

Kobalt has combined its recording business under the AWAL brand, as it commits $150m in funding to spend on marketing and advances for artists.

In addition, AWAL is hiring 100 more employees, to bring its global headcount to approximately 200 people, while updating its artist-facing app with key financial data – including earnings information from Spotify, Apple Music and YouTube.

AWAL works with thousands of artists including the likes of Lauv, Bruno Major, Tom Misch, Nick Cave & The Bad Seeds, R3HAB,The Wombats and VÉRITÉ (pictured) – some of whom feature in a new marketing push from AWAL dubbed ‘I AM MY OWN LABEL’.

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