Kobalt expands film music repertoire with CEG purchase

PRESS RELEASE:

Kobalt has acquired CEG Rights BV, a publishing administration business dealing mainly in music for film and other media, from Cutting Edge Group.

The deal will see Kobalt, the world’s largest independent music publisher, expand its film music repertoire to include scores from quadruple Oscar-winning film The King’s Speech, BAFTA-nominated Drive, US box office-topping thriller Non-Stop and 2014’s Whiplash, nominated for five awards including Best Picture at the 87th Academy Awards, to be held on 22nd February. Also included is Steven Price’s score for 2014’s Fury, nominated for best Original Score at the Hollywood Music in Media Awards. The catalogue’s combined box office grossed in excess of $2bn.

In what is the company's first acquisition of a publishing administration business, Kobalt will bring its world-leading technologies – tailor-made for the growing tsunami of associated data – to bear on the global publishing and collections for these leading film scores. Kobalt will also administer the master recordings of the scores. Kobalt and Cutting Edge Group will additionally work together to find secondary uses for the existing catalogue of the scores outside the original films as well as to pick up new scores.

CEG Rights was set up in 2013 by Cutting Edge Group, the leading international film music financier and services provider, to administer worldwide music rights in its catalogue.

Kobalt already administers the music catalogues of National Geographic (worldwide) and leading composer and music supervision company Air-Edel (worldwide ex. UK). It also publishes Disney’s entire music catalogue in Australasia, including scores for Pixar and Marvel films as well as the blockbuster soundtrack for the film Frozen.

Richard Sanders, President of Kobalt said: “We are committed to building and investing in our film and TV admin business and the acquisition of CEG Rights, with its outstanding catalogue, represents a cornerstone to that commitment.”

Cutting Edge Group’s Managing Director Phil Hope added: “We are thrilled that our international administration is now in the hands of the leader in the music administration space and are very much looking forward to working on our catalogues with Kobalt and their expert team.

“The Cutting Edge Group will continue to invest in music rights and will extend its focus on working with media producers to enhance the music in their productions. In tandem with our music marketing business, Cord Worldwide, we will work alongside Kobalt to maximize value for our investors, clients and composers alike.”

Commented Kobalt’s Chief Financial Officer James Fitzherbert-Brockholes: “Kobalt has been steadily building its reputation at the growing intersection between music and audiovisual content. We have a great relationship with Cutting Edge Group, and this purchase was driven by the joint belief that Kobalt is well-placed to deliver a market-leading service in administering these magnificent scores.”

Other scores covered by the deal include action blockbusters Unknown, Non-Stop, A Walk Amongst The Tombstones and John Wick.