Kobalt Neighboring Rights Rebrands as Kollective Neighbouring Rights
Kobalt Neighboring Rights changed its name to Kollective Neighboring Rights (KNR) on Tuesday (September 13). Along with the rebrand, KNR, which works with A$AP Rocky, the Red Hot Chili Peppers, and Miley Cyrus, among others, announced that it will collaborate with the Orchard to roll out a new platform encompassing a full range of global administration and performance royalty maximization services. Today marks the start of a new era for KNR, Ann Tausis, the companys CEO, said in a statement. We are excited to build on our relationship with the Orchard to unveil an upgraded, custom-built system that will help serve our global clients in enhanced, more streamlined ways, while continuing to provide best-in-class service. There are still untapped markets in neighboring rights, and were looking forward to utilizing the global footprint of the Orchard to initiate collections for our clients in additional territories. The Orchard provides first-class solutions, cutting edge technology, expert guidance, and brand transparency to our clients, added Brad Navin, CEO of the Orchard. Expanding these services to KNRs roster will further empower performers to maximize their neighboring rights collections as they navigate a global web of complex and evolving revenue streams. Neighboring rights are a royalty paid to recording owners and performers when their music is played in public or broadcast. Confusingly, not every country pays neighboring rights the U.S. is a notable exception. Still, this stream of income can add up for acts that get a lot of international radio play, for example. Overall, performance rights income represents close to 10% of global music revenues, according to the International Federation of the Phonographic Industry. KNR is the largest neighboring rights collections agency. Sony purchased KNR along with AWAL in May 2021. .
Wednesday, September 14, 2022 at 2:49 pm