Less than five months after unveiling an over $700 million catalog partnership with Morgan Stanley, Kobalt says it’s increased its total “funding capacity” to north of $1 billion. New York-based Kobalt touted the deployable capital today, via a formal release. The more than $1 billion at hand refers specifically to the mentioned Morgan Stanley-powered tranche as well as a refinancing and a newly obtained $266.5 million from an asset-backed securitization.
Source: Kobalt Funding Tops $1B Following Refinancing, Royalty Securities
Last week, Midjourney, the AI startup building image generators, made a small, blink-and-you’ll-miss-it change to its terms of service related to the company’s policy around IP disputes. It mainly served to replace jokey language with more lawyerly, doubtless case law–grounded clauses. But the change can also be taken as a sign of Midjourney’s conviction that AI vendors like itself will emerge victorious in the courtroom battles with creators whose works comprise vendors’ training data.
Deezer says that it had around 200 million pieces of content on the platform last year, which means that over 13% of this content has been deleted. “The intention is to declutter the platform, focus on tracks that are valuable to our users and increase the market share for all artists who create this music,” Folgueira told MBW. “The tracks that have been removed include noise, mono-track albums, fake artists and tracks that haven’t been listened to in the past 12 months.”