7digital claims ‘positive’ start to 2018 with new contract wins

B2B digital-music firm 7digital has published a trading update for its business in the first quarter of this year, which it describes as “positive” for the company. “Trading in the first quarter matched the company’s expectations, with turnover slightly ahead of budget,” explained 7digital in its release to the AIM stockmarket this morning. “Altogether, contracts with a […]

PRS for Music payouts grew by 14.7% in 2017 to set new record

British collecting society PRS for Music is the latest PRO to publish impressive numbers for 2017. Its revenues were up by 12.7% year-on-year to £717m (just over $1bn) while its payouts to members grew by 14.7% to £605.1m ($848.3m) to set a new record. The figures included a 5.2% rise in international revenue generated by […]

After 2017 growth, Sacem boss talks YouTube, Facebook and blockchain

French collecting society Sacem has reported that in 2017, its collections from online surpassed those from physical music products for the first time. But both revenue sources are still behind that coming in from private-copying levies. Total collections for 2017 stood at €1.4bn, an increase of 3.2% from 2016. Of that, online made up €83.8m, […]

SoundCloud 2016 financials show losses increased to $74.5m

SoundCloud has published its financial results for 2016 through Companies House in the UK. They show that the company’s revenues grew by an impressive 88.9% to €50.3m that year (around $62m) but that its net loss grew by 45.4% to €74.5m ($91.8m) in 2016. That was based on the company’s cost of sales – including royalties – […]

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 […]

Twitter reports a quarterly profit for the first time

Shock news! A social network that isn’t Facebook *can* be profitable after all. Twitter’s latest quarterly financials included an important milestone for the company: its first quarter in the black. The company’s revenues of $732m in the fourth quarter of 2017 were up 2% year-on-year, but it flipped from a net loss of $167m in […]

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 […]

Warner Music Group revenues grew by 14% in Q4 2017

Warner Music Group continues to capitalise on the music industry’s streaming-fuelled return to growth. The major label recorded revenues of $1.05bn for the fourth quarter of 2017, up 14% year-on-year. Its digital revenues grew by 20% to $533m as part of that – 51% of the total. However, WMG’s operating income fell by 4% to […]

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 […]

Vivendi expects 10% revenue growth for UMG in 2017

Media group Vivendi isn’t due to publish its next quarterly financials until mid-February, but the company issued a statement on “preliminary positive trends of 2017” yesterday including a couple of Universal Music stats. “Universal Music Group (UMG) confirmed its excellent momentum during the fourth quarter of 2017, which should lead, as expected, to revenue growth […]

Warner Music Group revenues up 10.2% year-on-year

The music industry’s growth story continues: Warner Music Group has just announced its financials for its fiscal fourth quarter, and thus its full financial-year figures. The headline: 10.2% growth in total revenues. In fact, WMG saw its revenues grow from $3.25bn in the year ended 30 September 2016 to $3.58bn in the year ended 30 […]

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 […]

Streaming fuels strong rise in Sony Music revenues

This is a familiar tale by now: a major label announces its latest quarterly results, with revenue increases that would have been pie in the sky during the music industry’s 15-year decline, and with streaming as the prominent driver of that growth. Sony Music’s figures for the third quarter of 2017 – its fiscal Q2 […]

Financials reveal Shazam narrowed its losses to £3.7m in 2016

Shazam narrowed its net losses from £16.7m in 2015 to £3.7m in 2016 (around $4.9m) in a year when it said its app had more than 300 million annual active users. These details come from the company’s financial results for last year, filed with Companies House in the UK. Shazam’s revenues increased by 14.5% to […]

Vevo hopes for 30% growth after 2016 revenues of $500m

Vevo has been talking about the growth in its advertising business, with the music-videos service having taken in $500m in 2016. Chief sales officer Kevin McGurn told Business Insider that Vevo is expecting 30% growth in 2017, including nearly $200m in year-long ad commitments spawned by its shift towards ‘upfront’ sales of advertising, matching the […]

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, […]

Aller à la barre d’outils