BMG boss suggests major-label valuations are overblown

BMG’s chief executive Hartwig Masuch has been taking his latest potshots at the three major labels, this time focusing on whether their cost structures will prove unwieldy as deals tip more in favour of artists, from frontline catalogue to renewals of existing deals. “The deals for big hits today are much more aggressive than people […]

LiveXLive revenues grew in Q2 but its losses widened slightly

US digital music company LiveXLive has published its latest financial results, which show that its revenues grew by 25.1% year-on-year to $9.5m in the second quarter of 2019. However, the company’s net losses also widened slightly, from $10.8m a year ago to just under $11m last quarter. LiveXLive’s cost of sales, at $9m, accounts for nearly […]

Sonos revenues grew by 25% last quarter as losses narrowed

Sonos is feeling chipper about its latest financial results: the speaker-maker’s revenues grew by 25% year-on-year to $260m in the second quarter of 2019, including a 61% bump for sales (in dollar terms) of its Sonos One speaker. Sonos sold just under 1.1m products in the last quarter (its fiscal Q3) across its wireless speakers, home […]

WMG boss: streaming isn’t the only reason for industry growth

Warner Music Group published its latest quarterly financials yesterday, with its revenues up 10.4% year-on-year to $1.06bn, including 12.5% growth in its digital revenue to $648m – 61.2% of the total. Within that, WMG’s recorded-music revenue grew by 13.8% to $913m, but its publishing revenue actually fell by 7.5% to $147m – “lower market share and loss […]

Notes of interest from Spotify’s Q2 2019 earnings call

It’s no secret: Spotify’s earnings calls aren’t meant to be interesting. They’re an exercise in repeating key corporate messages; parrying tricky questions; and striving not to say anything that will spook the Wall Street or music-industry horses. CEO Daniel Ek isn’t the kind of executive who lurches off-piste with controversial, off-the-cuff opinions, and CFO Barry […]

Spotify’s Q2 2019: 108m subscribers, €1.67bn revenues, and a €76m net loss

Spotify has published its financial results for the second quarter of 2019, revealing that the streaming service added 15 million new listeners including eight million paid subscribers during Q2. Spotify ended June 2019 with 232 million listeners, up 29% year-on-year from the 180 million it had a year ago, and up 7% quarter-on-quarter from the […]

Twitter revenues and daily users are both up year-on-year

It’s clearly the month for better-than-expected financial results for social apps previously thought to be on the slide. First we had Snapchat’s impressive figures for the second quarter of 2019, revealing that it now has 203 million daily active users. Now it’s Twitter revealing that its ‘monetisable daily active users’ (mDAUs) grew by 14% year-on-year to 139 million […]

Beggars Group financials show profits were up 51.5% in 2018

The financial results of the major labels get plenty of media coverage, but are independent labels enjoying similar growth in the streaming era? The latest figures from one of the largest independents, Beggars Group, offer some useful data. Filed in the UK, the figures are for the calendar year 2018. Key stats: Beggars Group’s total revenues […]

Analysts frustrated at lack of hard numbers on YouTube

How much money does YouTube make? The New York Times offers a carefully-vague suggestion in its latest article about Alphabet’s video service: “YouTube probably generates $16 billion to $25 billion in annual revenue, making the video service big enough to crack the top half of the Fortune 500.” The ‘probably’ actually illustrates the main thrust of the […]

Facebook reveals latest financials… and an FTC antitrust probe

“We had a strong quarter and our business and community continue to grow,” was the lead statement from Facebook CEO Mark Zuckerberg last night, as his company revealed its latest impressive financial results. Revenues were up 28% year-on-year to $16.62bn in the second quarter of 2019, with the social network reporting a $2.62bn profit for the […]

Snap financials reveal Snapchat now has 203m daily active users

Snapchat’s parent company Snap, Inc published its latest quarterly financial results last night, and they contained plenty of figures to silence (if temporarily) the company’s doubters. What’s that? Because it made a healthy profit? Erm, no. Snap reported a net loss of $255.2m for the second quarter of 2019, although that was an improvement on the […]

7digital financials shed more light on company’s position

B2B digital-music firm 7digital has published its financial results for 2018, although it’s events since the end of last year that have put the company in its current worrying position. So, 7digital’s group revenues grew by 19% in 2018 to £19.9m (around $24.8m) but its net losses grew from £4.8m to £11.9m. However, the financials also […]

7digital needs £4.5m by the end of July to avoid administration

There’s a stark warning delivered within the latest financial filing for B2B digital-music company 7digital. “The Company currently believe that it still needs to raise Additional Funds of at least £4.5 million by 31 July 2019, failing which it is highly likely that the Company would need to be placed into administration.” This follows the investment of […]

LiveXLive reports $9.2m of revenues but a $9.7m loss in Q1

Music firm LiveXLive, which focuses on streaming concerts as well as its Slacker audio-streaming service, has published its latest quarterly financial results. The company’s revenues grew by 29% year-on-year to $9.2m in the first quarter of 2019, although its net loss grew too: from $9.5m in Q1 2018 to $9.7m last quarter. LiveXLive also says that […]

UK Music boss calls for investigation into PledgeMusic collapse

Crowdfunding firm PledgeMusic’s imminent administration looks set to get messy, with the inevitable scrutiny of how the company got into a financial hole – and crucially, what happened to the money raised by artists using the platform, who are still owed payouts. UK Music boss Michael Dugher wants the relevant watchdogs to get involved in […]

PledgeMusic goes into pre-administration: report

Hypebot is reporting that PledgeMusic has gone into pre-administration as its future now hangs in the balance. According to sources, a buyer for the troubled crowdfunding platform is still possibly in the wings seeking to acquire it – but is deliberating. “UK based corporate advisory FRP has been named to contact potential buyers and value the […]

Filing: Amazon spent $1.7bn on music and video content in Q1

We reported on Amazon’s latest financial results last week. In the official filing, the company revealed a music stat! Albeit one bundled in with video. “Total video and music expense was $1.5 billion and $1.7 billion in Q1 2018 and Q1 2019,” reported Amazon. “Total video and music expense includes licensing and production costs associated with […]

Spotify now has 100 million premium subscribers

Spotify has published its financial results for the first quarter of 2019, including a significant milestone: 100 million premium subscribers. That’s up from 96 million at the end of 2018. and 75 million a year ago. Spotify now has 217 million monthly active users overall, so its ‘conversion rate’ is now just over 46%, up […]

Facebook financials strong despite looming multi-billion fine

Facebook’s latest quarterly financials show the company’s business rolling on, with revenues up 26% year-on-year to $15.1bn in the first quarter of 2018, and a net profit of $2.43bn. The latter figure is down from $4.99bn a year ago, but consider this: Facebook’s latest net income factors in a $3bn legal expense – money set aside […]

Twitter and Snapchat publish their latest financial results

Two social networks that have faced challenges around their user-growth published their latest quarterly financial results yesterday. So how are Twitter and Snapchat doing? Twitter’s financial numbers were good: revenues up 18% year-on-year to $787m and a net profit of $191m for the quarter. However, its number of monthly active users (MAUs) was down by six […]

LiveXLive gets livestreaming rights to iHeartRadio events

US firm LiveXLive has bagged the rights to live-stream 17 of US radio group iHeartMedia’s events this year, including various festivals, as well as licensing and streaming rights for some smaller events like album launches and live performances. The deal will also see iHeartRadio getting a channel on LiveXLive’s online-video service. The latter company says that it […]

‘Organic growth’ helped BMG revenues grow by 7.5% in 2018

Music company BMG’s revenues grew by 7.5% in 2018 to €545m (around $615m) according to the latest financial results published by parent company Bertelsmann. CEO Thomas Rabe said that organic growth was key to the company’s overall progression. “BMG benefited in particular from the expansion of its recordings business, which grew strongly during the reporting year; […]

Spotify financial results: revenues up by 30% as premium subs reach 96m

Spotify has published its latest quarterly financial results, covering the final quarter of 2018. The post Spotify financial results: revenues up by 30% as premium subs reach 96m appeared first on Music Ally. Source: Music ally

Warner Music Group revenues grew by 15.1% last quarter

Warner Music Group has published its latest quarterly financial results, which reveal that the company’s revenues grew by 15.1% year-on-year. That was just over $1.2bn in the fourth quarter of 2018 (WMG’s fiscal Q1). Of that, digital revenues grew by 17.6% to $627m, with the company reporting an operating profit of $147m and a net […]

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