Today we've announced findings from an analysis of streaming royalty data for our AWAL artists. From the year-over-year analysis, we found that AWAL artists receiving more than $100,000 in annual streaming revenue has grown by over 40%. We also identified hundreds of artists have reached this annual streaming revenue threshold. Many of which, in this revenue tier, have created million dollar catalogs as owners of their recording rights.
“My vision for a vibrant, high-volume of artists making good money from streaming - including a long overlooked middle-tier - is coming into picture with our AWAL artist focus and execution,” said Founder and Chairman of Kobalt Music Group, Willard Ahdritz. “Once artists reach this threshold, they are effectively creating million-dollar catalogs.”
Added Ahdritz, “Hundreds of AWAL artists have made this $100,000 annual revenue earning very quickly with us, while dozens have rocketed right through to million dollar annual streaming payouts. Lucrative streaming royalty payouts and catalog values no longer favor a select few as this pie is rapidly growing for artists, provided the artist has an AWAL-like deal in place. This is further validation the recorded music industry is in full transformation.”
Elevating Artists To Breakthrough And See Global Success
In March 2018, Kobalt Music Group significantly boosted AWAL's resources to serve thousands of artists and catalyze a much needed change in the music industry with a new model. Through fair deals that allow artists to keep the lion’s share of revenues and 100% of their copyrights, coupled with the ability to develop and take artists to the top of the charts, AWAL has redefined how artists should be empowered and supported in the new music industry. Over the past two years, AWAL Recordings, the company's top-level focus that curates exciting talent backed by dedicated global creative and marketing resources, drove Lauv, FINNEAS, Little Simz, Steve Lacy, girl in red, Gerry Cinnamon, Nick Cave & The Bad Seeds, R3HAB, and many many more, to career-defining success as independent artists while retaining their music rights.
Lonny Olinick, CEO of AWAL, said, “As we set out to create a completely new industry model and better global music company for artists, this data and the success of our roster validates what we have been saying since day one. Our community of AWAL artists have been emboldened by our approach and chose to bet on themselves. And they are being rewarded handsomely for taking charge of their creativity and putting out the art that they believe in versus censoring themselves based on anything other than their artistic sensibilities and audience reaction.”
Olinick added, “The structure we have built allows for artists to add gasoline to their fire. The data shows us it's clearly paying off for many AWAL artists, with many going from tens of thousands in streaming revenue to hundreds of thousands or millions, in just one year with us. Artists are demonstrating they can both stay independent and build a global, successful career with our support in marketing, creative, synch, funding, audience development, radio promotion and more. This is only the beginning. Our unique model is causing a ripple-like effect across the industry as artists, managers and lawyers see our roster’s success. Artists no longer have to make tradeoffs for their future financial security to reach their full potential.”