Kobalt is on the expansion trail again, buying the neighbouring rights and publishing businesses of Fintage House, leaving the latter company to focus on its TV and film business. “I really believe we can achieve more for the music industry and its clients by merging our forces and values, than we could apart,” said Fintage House’s co-CEO Niels Teves in a statement. “We are very keen to continue to build on what we have created in Kobalt in a relatively short space of time and take this increasingly important revenue stream to new levels,” added MD of Kobalt Neighbouring Rights Ann Tausis. Kobalt’s neighbouring rights business has already been growing: its revenues rose from $9.2m in its fiscal 2014 to $$20.9m in its fiscal 2015, according to the company’s last financial results. That meant this segment accounted for 8.5% of Kobalt’s overall revenues.
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