Did you notice people waving their arms like crazy at the National Music Publishers Association annual meeting in New York last week?
No, neither have we. But if this fictitious incident really happened, then there is a good chance that Amla would take a shaky approach. In other words, the action of waving the arms happens to occur at Robert Kinkel, The CEO of Warner Music Group said in the event’s keynote interview:
“One of the things that bothers me personally is [the industry’s collection societies] Basically, we collect digital revenue the same way we have collected analog revenue for decades. The speed of it; everything is the same.
Kyncl refers to traditional field professionals in the music industry.
But Kobalt subsidiary Amra calls itself “the first and only global digital collection association” for good reason: The company licenses and collects digital rights directly from DSPs in more than 200 countries around the world on behalf of publishers and songwriters.
In addition to Kobalt Music Publishing (and its songwriters), Amra’s current clients include Anthem Music Publishing and Armada Music Publishing.
It has raised funds for writers including Lindsey Buckingham (Fleetwood Mac), Lucas Gottwald (Dr. Luke), Julia Michaels and David Paich (TOTO).
Since its acquisition/launch by Kobalt in 2015, Amra has grown into a strong company. Dollar $117.3 million In terms of income.
No wonder Francisco PartnerThe company, which acquired a majority stake in Kobalt in 2022, sees Amra as a growth focus. (FP’s Matt Spezler Reaffirming Amra’s status as “the only global digital licensing platform” at the time.
Today (June 20), Amra released a statistic that tells its story: Cobalt/FP Seeing the opportunities ahead: Amru Confirmed to have exceeded US$50 million Total technology investment to date, most of which is for past three years.
Amla said in a press release that the funds have been invested in “Significantly enhance the platform’s overall processing capabilities, maximize cloud infrastructure, leverage machine learning technology to improve Amra’s matching capabilities and upgrade the company’s ingest capabilities”.
The company claims these enhancements Directly led to an increase in income Provide services to Amra customers in the global digital consumption field and customers who can obtain funds faster.
The company said that over the past three years, Amru grew more than 5X. In 2023 alone, the company processed more than 5 trillion Transactions around the world.
“When we launched Amra in 2015, it was clear to us that digital consumption would eventually become the largest share of revenue for songwriters and publishers,” said Amra CEO. Thomas Erikson.
“To prepare for this possibility, we knew that sophisticated and smart technology solutions would be needed to handle the volumes of data associated with this type of consumption. Building a global technology infrastructure to support this platform would require a significant financial commitment, and in the process, we Created the world’s most powerful platform for processing music usage data and matching.
“This new capability provides the infrastructure needed to handle our expanding customer base around the world, which we expect will continue to grow strongly in the coming years.”
Robin Davisamra COO added: “One of the problems with the current collections landscape is the almost complete lack of transparency, coupled with the inability to ensure that you as a songwriter or publisher receive the correct royalties, which is a problem as the number of deals increases exponentially. becomes more complex.
“That’s why from the beginning, we’ve given our clients the ability to conduct regular reviews of their royalty statements, something no other platform can offer.”
In addition to the U.S. market, Amra’s global reach includes direct digital collections in Southeast Asia, India, Australia, Brazil and Japan, and continues to grow.global music business
