The Billion Dollar Deal Between Primary Wave & Kobalt | Billboard On The Record

The business of music is changing, and the stakes have never been higher. Following Primary Wave’s billion-dollar-plus acquisition of Kobalt, Primary Wave CEO/founder Larry Mestel and Kobalt CEO Laurent Hubert join Billboard On The Record host Kristin Robinson in an exclusive first interview to break down the deal and what it means for the future of music publishing. They discuss how their new business arrangement will work, how many millions they’ve each spent on music catalogs this year and why it seems acquisitions and mergers have become the music industry norm in 2026.

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Billboard On The Record is a podcast in partnership with SickBird Productions.

Host:
Kristin Robinson

Executive Producers:
Diona DaCosta
Jade Watson

Produced By:
Kayla Forman
Mateo Vergara

Edited By:
Rachel Derbyshire

00:00 Primary Wave’s acquisition of Kobalt
05:01 How the partnership came together
08:01 Primary Wave and Kobalt’s complementary strengths
11:00 Kobalt’s AMRA platform and publishing administration
15:01 Flexible publishing deals for songwriters
19:01 Icons, catalogs and reaching new audiences
25:00 Technology, AI and collecting music royalties
27:00 Primary Wave’s “Home of Legends” approach
30:00 Whitney Houston slot machines and catalog marketing
36:01 Songwriting camps and collaboration between teams
39:01 Brookfield, funds and future growth
49:01 Why music companies are consolidating
57:02 The catalog market and artists selling their rights
01:02:00 Spin the Record: music memories and advice
01:11:01 Favorite first albums and concert experiences

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The Billion Dollar Deal Between Primary Wave & Kobalt | Billboard On The Record

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