SoundExchange payouts grew by 17.5% year-on-year in Q2

US company SoundExchange has published its latest quarterly figures, and they show strong growth in its payouts to artists and labels. The company paid out $208.7m in the second quarter of this year, up 17.5% year-on-year. That growth is also reflected in SoundExchange’s figures for the first half of 2018, with distributions up 17.4% to $398.6m, […]

Strong streaming growth for UMG as Vivendi rules out IPO

Vivendi published its latest quarterly financial results yesterday, including figures for Universal Music Group. And UMG’s parent company also provided an update on its plans for the major label, which will now involve selling up to 50% of the company to one or more strategic partners, having ruled out an initial public offering (IPO). Figures first: Universal […]

Spotify Q2 financials: 83m subscribers, revenues up 26% and a €394m net loss

Spotify has just published its financial results for the second quarter of 2018. The music-streaming service ended June with 180 million monthly active users, including 83 million subscribers. Those figures were up 30.4% and 40.7% respectively year-on-year, and up 5.9% and 10.7% respectively quarter-on-quarter. Spotify generated revenues of €1.27bn (around $1.49bn) in Q2 this year, […]

Music-hardware startup Roli takes investment from Sony

British instrument-maker Roli has received new investment from tech giant Sony, through the latter’s VC arm Sony Innovation Fund. CEO Roland Lamb told Bloomberg that the deal is a “significant investment and relationship for us”. While Roli isn’t saying how much Sony invested, TechCrunch notes that before this deal, Roli was listed on investment site PitchBook as having raised […]

Kobalt revenues and losses both increased in last fiscal year

Music firm Kobalt’s latest financial results show that its revenues grew by 23.5% to $321m in its last fiscal year, which ended on 30 June 2017. However, the group’s operating loss grew by 45.6% to $24.3m, while its net loss for the year grew by 69.8% to $33.1m. Although given the company’s ability to raise […]

Spotify expects to have up to 96m subscribers by Christmas

Spotify has published some guidance on its financial outlook for 2018, including predicting that it will have 92-96 million premium subscribers by the end of the year. That would represent annual growth of between 30% and 36% from the 71 million subscribers that Spotify ended 2017 with. The new guidance also suggests that Spotify is […]

Spotify files for its DPO: so what do you need to know?

“Feels great to have the cat out of the bag. Transparency breeds trust,” tweeted Spotify CEO Daniel Ek last night. The cat in this instance being Spotify’s long-awaited filing for its direct public offering (DPO), which was published last night. The document offers the most detailed insight yet into Spotify’s current business and future prospects. […]

Live Nation reported record revenues of $10.3bn for 2017

2017 was a good year for Live Nation in financial terms, with the live-entertainment giant’s revenues rising by 24% to $10.3bn last year, according to its latest financial results. 86 million people attended concerts put on by Live Nation, which was up 21% year-on-year, as the company hailed “its seventh consecutive year of record results” […]

LiveXLive approved for NASDAQ listing after Slacker acquisition

Digital music firm LiveXLive, which focuses on live-music videos as well as its recently-acquired streaming service Slacker Radio, has been approved to list on the public NASDAQ market. Boss Rob Ellin described it as “an exciting and major milestone in our evolution that we believe will expose the company to a wider audience of potential […]

Mobile games developer Supercell made $2.03bn in 2017

Finnish mobile games firm Supercell has published its financial results for 2017, revealing that it made $2.03bn of revenues, and a profit of $810m. The twist: the company did that without even releasing a new game that year. Supercell only has four games available: Hay Day and Clash of Clans were originally released in 2012, […]

Analyst claims YouTube is ‘probably’ a $15bn business

How much money does YouTube make from advertising? Parent company Alphabet has never announced that, leaving analysts to make their best guesses. In 2013, eMarketer claimed that the site was generating $5.6bn in annual revenues, for example, while in 2015 UBS suggested that had grown to $8.5bn. A recent claim from Nomura that an advertising […]

7digital trading update shows 52% rise in revenues

B2B digital-music firm 7digital has issued a trading update showing strong growth in its full-year revenues. The company says it expects to report revenues of £17.3m for 2017, up 52% year-on-year. “Losses at Adjusted LBITDA level are expected to be significantly reduced from the previous period and be better than market expectations,” claimed the company […]

Snapchat growth sends Snap, Inc share price soaring

Since its IPO last year, Snapchat parent company Snap, Inc has had a rough time of it on Wall Street, with investors uneasy about the social app’s sluggish growth. Yesterday brought some good news for the company in its latest financial results though: it beat analyst forecasts with stronger-than-expected growth, and saw its share price […]

Pandora lays off 5% of staff as value shrinks for Sirius XM

It’s just over a year since Pandora laid off 7% of its staff in the US in order to “to focus and realign existing resources on execution and make further investments in product innovation to drive advertising revenue and subscription growth”. Now it’s in for another round of layoffs, this time “an organisational restructuring designed to […]

Snap stock drops after disappointing quarterly results for Snapchat

Are the wheels well and truly coming off the Snapchat bandwagon? Parent company Snap, Inc published its latest quarterly financial results last night, and while its revenues grew by 62% year-on-year to $207.9m, the company’s net loss ballooned to $443.2m compared to $124.2m this time last year. The post Snap stock drops after disappointing quarterly […]

Facebook revenues up 47% while net profit grows by 79%

Facebook has announced another strong set of quarterly financials, with the company’s revenues growing by 47% year-on-year to $10.33bn in the third quarter of 2017. The social network reported a net profit of $4.71bn for the quarter, up 79% year-on-year. The latest user numbers: Facebook daily active users were up 16% to 1.37bn, while monthly […]

2017 was a billion-dollar distribution year for BMI

US performance-rights organisation BMI has announced a strong set of figures for its 2017 fiscal year, which ended recently. The company generated $1.13bn of revenues, distributing just over $1.02bn to songwriters, composers and publishers – up 10% year-on-year. BMI is hailing the results as “the most public performance revenue and highest royalty distributions of any […]

BMG revenues and profits both up in first half of 2017

It wasn’t just Universal Music posting new financials this week. BMG (through its parent group Bertelsmann) has also revealed its latest figures, with encouraging growth in both revenues and profits. BMG generated revenues of €233m ($277m) in the first half of 2017, up 28% year-on-year. Meanwhile, the music company’s operating EBITDA (earnings before interest, tax, […]

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