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The Orchard and Rimas Ink Global Distribution Deal, Launch New Label
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The Orchard, Rimas Partner for New Label
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Music Business Worldwide
April 1, 2021
Som Livre artist, Marilia Mendonça, has over 13 billion views of her channel on YouTube
We told you so. Last month, MBW predicted that Som Livre, owner of the biggest domestic-born record label in Brazil, was set to be acquired by a major music company.
Our sources informed us the price of the deal would likely land somewhere around $250 million to $300 million, and that all three majors had kicked the tires of the firm.
Now we know who got it: Sony Music Entertainment has today (April 1) confirmed that it has agreed a deal to acquire Som Livre for an as-yet-undisclosed fee.
Sony Acquires AWAL, Kobalt Neighboring Rights
AWAL, which built a reputation as a safe harbor for independent artists seeking true global reach, is now owned by Sony, the world’s second largest music group.
Sony Music Entertainment has announced that it will acquire Kobalt’s recorded music operations, including AWAL and performance rights collection agency Kobalt Neighbouring Rights.
Together they will become a new division within SME’s suite of independent artist and label services alongside independent distribution company, The Orchard.
“Connecting AWAL with The Orchard rounds out SME’s expanded support and services opportunities for record labels as well as DIY artists,” Sony said in a statement.