Uniting Greek Talent with Global Reach
Acquisition and Legacy
Established in 1957, Cobalt Music has been a cornerstone of the Greek music industry for decades. It has built an extensive local repertoire catalogue and has consistently been at the forefront of the Greek music scene. With this acquisition, Sony Music Entertainment Greece aims to preserve and enhance this rich legacy. The label's selective and capital-efficient frontline operations will now be integrated into Sony Music's global network, providing expanded opportunities for Greek talent.Renowned Greek artists and their catalogues within Cobalt Music will now have access to Sony Music's innovative technology expertise, marketing resources, and worldwide distribution network. This will enable them to reach a wider international audience and achieve greater success.
New Leadership and Mission
Anna Maria Antippas has been appointed as the Managing Director of Sony Music Entertainment Greece. With nearly two decades of leadership experience within the Greek music industry, she brings a wealth of knowledge and expertise to the company.Under her leadership, the company's mission is to foster local talent and elevate the Greek music scene on a global scale. She is committed to leveraging Sony's global platform while continuing to champion the rich cultural heritage of Greek music.
Greek Music Industry Growth
The Greek music industry has experienced significant growth in recent years. In 2023, total recorded music revenues reached US$70.4 million, marking a 14.91% increase from the previous year. Streaming accounted for 63.1% of total revenues (US$44.4 million), showing a 15.2% year-on-year growth. Synchronization revenues also saw a substantial 49.4% increase, contributing to the overall market expansion.This growth positions Greece as an emerging force in the global music scene, with local artists dominating the charts. All top 10 tracks in Greece for 2023 were by local artists, highlighting the strength and potential of the Greek music market.