STIM and music publisher Kobalt end licensing cooperation
During the partnership, Kobalt and STIM collected the European online rights to Kobalt’s Anglo-American repertoire, through STIM’s subsidiary Kobalt STIM Aggregated Rights AB. Following the decision to end the licensing collaboration, the subsidiary will immediately discontinue offering new licensing agreements to the market. Current collaborations will however be sustained during a transition period.
– The partnership with Kobalt has been a valuable part of the process toward cross-border agreements with digital music services for all STIM repertoire, to the benefit of the market, consumers and our affiliated music creators. Throughout the last two years we have proven STIM’s capability to license and administer rights across multiple territories in an expedient and efficient manner. We look forward to further cooperation with Kobalt Music outside the partnership, says STIM's CEO Karsten Dyhrberg Nielsen.
– Stim has been a good partner in our pan-European digital licensing operations. Together we have created significant benefits for creators, publishers and the market. We look forward to working with Stim in other areas now that we are taking a new direction for our pan-European digital collection, says Kobalt Founder and CEO Willard Ahdritz.