Sony Music acquires Cobalt Music

As part of this development, Anna Maria Antippas has been appointed as the managing director of Sony Music Entertainment Greece. With nearly two decades of leadership experience in the Greek music industry, Antippas is set to guide the company’s new venture while preserving the legacy of Cobalt Music.

Founded in 1957, Cobalt Music has been a cornerstone of the Greek music scene for decades, building a catalogue of what Sony describes as “iconic local repertoire.” The label is known for its selective yet efficient operations and its roster of celebrated Greek artists.

Through this acquisition, Sony aims to leverage its technology expertise, global marketing resources, and worldwide distribution network to further amplify Cobalt’s artists and catalogue. According to Sony, the move will bring new opportunities to the label’s roster while introducing Greek music to a broader international audience.

The acquisition comes at a time when the Greek music industry is experiencing significant growth. In 2023, total recorded music revenues in Greece reached $70.4 million, a 14.91% increase compared to the previous year. Streaming led the charge, accounting for 63.1% of revenues ($44.4 million) and growing by 15.2% year-on-year. Sync revenues also surged, with a 49.4% increase in 2023

Domestic artists dominate the Greek market, with all top 10 tracks of 2023 coming from local musicians. This “robust growth,” as Sony describes it, positions Greece as an emerging force in the global music industry.

Sony Music Continental President for Europe and Africa Daniel Lieberberg expressed his optimism about the Greek market, highlighting its rich musical heritage and vibrant contemporary scene: “By acquiring Cobalt Music, we aim to provide even more opportunities for local artists to thrive. Under Anna Maria Antippas’ leadership, we will preserve the legacy of Cobalt Music while also bringing Greek music to a wider global audience.”

Antippas said: “I am honoured to lead Sony Music Entertainment Greece and to be a part of this incredible opportunity for our artists. This enables us to leverage Sony’s global platform while continuing to champion the rich cultural heritage of Greek music. I look forward to fostering new partnerships, developing talent, and connecting our artists to the world.”

The acquisition of Cobalt Music is the latest in a series of strategic investments by Sony Music Group. During Sony Group’s annual Business Segment Meeting in May, Rob Stringer, Chairman of Sony Music Group, emphasised the company’s aggressive M&A approach: “We are undoubtedly the most aggressive major music group in M&A over the last three years.”