London-based independent publisher Kobalt Music Group has struck an exclusive agreement to administrate the publishing rights of China's state-owned CRC Jianian Cultural Development Co. Ltd. The long-
London-based independent publisher Kobalt Music Group has struck an exclusive agreement to administrate the publishing rights of China's state-owned CRC Jianian Cultural Development Co. Ltd. The long-term deal covers the world excluding China.
CRC Jianian's vast repertoire of Chinese music and contemporary works includes the 65,000-title catalog of the China Record Corporation, the oldest and largest label in the market.
Moreover, Kobalt and CRC Jianian have reached an exclusive agreement for the representation of some of Kobalt's catalog in mainland China.
In a statement, Kobalt founder/CEO Willard Ahdritz says, "CRC Jianian has an excellent position in China, and our new relationship will, for certain copyrights, allow us to work our global hits more actively in the burgeoning Chinese market." He adds, "We are convinced that we will be able to take it to another level of exploitation and collections."
Peter Jansson, president of CRC Jianian, described the agreement as "an amazing opportunity for both our companies."
CRC Jianian is a joint venture partnership between AIM Group LLC, PanPacific Ventures, Inc. and China Record Corporation.
The Beijing-based company is this year intending to ramp up its business with signings of several contemporary Chinese artists. The firm is also eyeing up sub-publishing and distribution deals on foreign catalogs for the Chinese market.
Kobalt's clients include James Brown, Editors, Nine Inch Nails, Sanctuary Music Publishing and Gwen Stefani.