Neighboring rights are one of the most misunderstood and fastest growing income streams in music. It's $2 billion annual business, and with the acquisition of the Fintage House's superstar client list, Kobalt becomes a dominate player.
Indie music services company Kobalt announced that they have acquired Fintage House’s Neighbouring Rights and Publishing businesses.
The deal will see the transitioning of services from Fintage to Kobalt for all of Fintage House's Neighbouring Rights and Publishing clients over the next few months. Fintage House's client roster includes Foo Fighters, Katy Perry, Bruce Springsteen, Britney Spears, and Ariana Grande among others.
Neighbouring Rights, a form of income for artists derived from recordings being broadcast, played in public or streamed on a non-interactive basis, are an increasingly important aspect of the music business and accounted for more than $2 billion in 2015, according to figures published by the IFPI.
The acquisition did not include Fintage House's film, television, management and brand identity arms.