US EditionIt’s Official: Primary Wave Acquires Kobalt
Primary Wave and Brookfield invest in Kobalt to enhance music publishing and digital royalty collections, with Kobalt generating about $90 million EBITDA annually, sources say.
- On Monday, Primary Wave Music announced a definitive agreement to acquire Kobalt, one of the world's premier independent music publishing platforms, in a transaction including an investment from Brookfield.
- Kobalt Founder Willard Ahdritz established the firm 25 years ago to improve transparency for creators, while Francisco Partners, which acquired around 90% of the company in 2022, now exits the investment.
- Industry sources estimate the deal at around $1.5 billion, merging Primary Wave's portfolio with a publisher that typically accounts for about 35% of top songs and albums annually in the U.S. and UK.
- Kobalt will operate as a separate, stand-alone entity under the continued leadership of Kobalt CEO Laurent Hubert, while Ahdritz will step down as Chairman of the Board once the deal closes.
- Expected to close in the third quarter of 2026, the transaction grants Primary Wave access to Kobalt's digital collection operation, AMRA, which may improve profitability through streamlined royalty collections.
12 Articles
12 Articles
Primary Wave Acquires Fellow Indie Music Publisher Kobalt
Independent music publisher Primary Wave is acquiring industry peer Kobalt, creating a larger player in a sector that is gained value in the streaming era. The deal brings together Kobalt, which typically accounts for about 35% of the top songs and albums each year in the U.S. and UK, and Primary Wave, a 20-year-old firm […]
It’s Official: Primary Wave Acquires Kobalt
Primary Wave said on Monday (March 23) it is acquiring Kobalt’s worldwide operations, its catalog of owned copyrights and digital collection company amra, according to a press release. Related Primary Wave Nears Deal to Acquire Kobalt, Which Would Create a $7B Indie Music Powerhouse …
Primary Wave Music Officially Acquires Kobalt
Independent music publisher Primary Wave has acquired fellow independent industry peer Kobalt, Deadline and Variety report.Deadline notes that Kobalt accounts for approximately 35% of the top songs and albums annually in the US and UK, and hosts a roster of big-name artists and producers, including Roddy Ricch, Max Martin, Paul McCartney, Foo Fighters, Andrew Watt, Phoebe Bridgers, Karol G, The Lumineers, and others. The value of Kobalt’s publis…
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