Sony Music Expands Its Presence in Greece with the Strategic Acquisition of Cobalt Music, Marking a Significant Step in the Region

Anna Maria Antippas appointed Managing Director, Sony Music Entertainment Greece

Athens, December 4th, 2024 — Sony Music Entertainment (SME) has officially announced its acquisition of Cobalt Music, one of Greece’s leading independent music labels. This strategic investment marks the revival of Sony Music Entertainment Greece, a new division within Sony Music’s global network, underscoring the company’s dedication to expanding its presence in rapidly growing international markets.

Established in 1957, Cobalt Music has been a cornerstone of the Greek music industry for decades, cultivating an iconic catalog of local repertoire while maintaining a lean, efficient frontline operation. Throughout its history, Cobalt has played a crucial role in shaping the Greek music landscape by supporting some of the nation’s most cherished artists and consistently delivering chart-topping releases. With this acquisition, Sony Music Entertainment Greece aims to honor and build upon this legacy, providing enhanced opportunities for Greek artists to flourish.

As part of the Sony Music Entertainment family, the new Greek division will empower artists and partners with greater access to global audiences and expanded industry resources. Cobalt Music’s esteemed roster of artists and catalogs will benefit from Sony Music’s cutting-edge technology, extensive marketing capabilities, and worldwide distribution network.

Anna Maria Antippas has been appointed Managing Director of Sony Music Entertainment Greece. With nearly two decades of leadership experience in the Greek music industry, she brings invaluable expertise and vision to the role. Under her guidance, the company is set to nurture local talent and elevate the Greek music scene on an international stage.

Daniel Lieberberg, President of Sony Music Continental Europe and Africa, commented: “The Greek market presents tremendous opportunities thanks to its rich musical heritage and dynamic contemporary scene. By bringing Cobalt Music into the Sony Music family, we are committed to creating even more avenues for local artists to succeed globally. With Anna Maria Antippas leading the team, we will honor Cobalt’s legacy while amplifying Greek music worldwide.”

Anna Maria Antippas added: “I am proud to lead Sony Music Entertainment Greece at such an exciting time. This acquisition allows us to leverage Sony’s global platform while continuing to celebrate and promote Greece’s unique musical culture. I look forward to building new partnerships, fostering emerging talent, and connecting Greek artists with audiences around the world.”

The Greek music industry has experienced remarkable growth in recent years. In 2023, total recorded music revenues reached US$70.4 million—a 14.91% increase from the previous year. Streaming remains the primary growth driver, accounting for 63.1% of total revenues (US$44.4 million), reflecting a 15.2% year-on-year rise. Additionally, synchronization revenues surged by 49.4%, further contributing to market expansion. These trends position Greece as an emerging powerhouse in the global music scene, with domestic artists dominating local charts; notably, all top 10 tracks in Greece for 2023 were by Greek artists (Source: IFPI Global Music Report 2024).

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