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Business News Deals Labels & Publishers
Kobalt STIM reveals digital deals ahead of MIDEM reception
By Chris Cooke | Published on Wednesday 29 January 2014
Kobalt STIM Aggregated Rights AB, a joint venture between music rights firm Kobalt and Swedish collecting society STIM launched last year to facilitate multi-territory digital licences in Europe, has announced that it has now entered into agreements with most of the major digital service providers in music, including iTunes, Spotify, YouTube, Google, Amazon, Napster and Vevo.
The JV business says that because its pan-European licence, which gives DSPs access to Kobalt’s entire repertoire of over 300,000 songs, has been set up in a simpler fashion to the norm, it is able to negotiate and sign agreements with digital platforms more quickly.
STIM boss Kenth Muldin told CMU: “It’s fantastic that the business model we launched together with Kobalt has resulted in so many important agreements and also in record time. It’s a big step on the way towards a common European market for music rights and STIM’s aim is to be a key player on the market”.
Meanwhile Kobalt chief Willard Ahdritz added: “Through our one-stop digital licensing service and our unique shared technology platform, we are very pleased to be able to quickly satisfy the market need while uniquely giving our clients transparency and significantly accelerated access to their money”.
The announcement comes ahead of an invite-only reception due to be held by Kobalt STIM at MIDEM in Cannes on Monday, in which more details of the deals are expected to be shared. MIDEM kicks off on Saturday, and you can get yourself a 10% discount on a pass if you use the code CMUMIDEM when you register online.
