The Kobalt Music Group lost $56.78 million on revenues of $543.44 million for the year ended June 30, 2019. While that performance represented a widening of losses from the prior year when the company had $38.89 million in red ink, it also showed a faster rate of growth as revenue increased 35.1% from the prior year's revenue total of $402.14 million for the year ended June 30, 2018.
In the latter year, the company only grew at a 25.3% rate from $321 million in revenue for 2017."This past year was another banner year of growth," the company's founder and chairman Willard Ahdritz said in a statement. "In addition, we successfully scaled our business to support our clients in the next phase of Kobalt.
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