Hipgnosis Songs Fund seeks £200m of new equity financing

Hipgnosis Songs Fund has been snapping up a series of publishing catalogues in big-money acquisitions, and it has no plans to stop – but it needs another injection of funding to fuel its ambition. “With over £1 billion of acquisitions in the pipeline covering some of the most important songs and artists of all time, much […]

LiveXLive reports record revenues – but also increased losses

LiveXLive is the US-based company that’s been increasingly active around music livestreaming, as well as owning audio-streaming service Slacker. The firm has announced its financial results for its fiscal year 2020, which ended on 31 March. The company’s annual revenues grew by 15% to $38.7m, while its number of paying subscribers grew by 25% to 849,000. […]

ByteDance and TikTok revenues under the microscope again

The rise of TikTok, and the assorted controversies around it, have meant there’s a lot more scrutiny of the economics of the app and its parent company ByteDance. Which is welcome for the music industry, as rightsholders go into licensing negotiations keen to strike as advantageous deals as possible. There are two new bouts of […]

Covid-19 tipped to spur 21% drop for French recorded music biz

Earlier this year, Spanish industry body Promusicae predicted a €100m hit to recorded music revenues in Spain this year due to the Covid-19 pandemic. Now French body SNEP has come out with a comparable prediction for its own market, suggesting that recorded music revenues will fall by €235m this year due to Covid-19 – a drop of […]

Swedish collecting society STIM’s revenues grew 15% in 2019

STIM is the main collecting society in Sweden, and like many of its counterparts around the world, it enjoyed healthy growth in its royalty collections last year. According to its annual report, STIM’s revenues grew by 15% in 2019, to SEK 2.4bn (around $259m), with SEK 1.8bn paid out to songwriters and rightsholders. 38% of […]

NMPA reveals US publishing revenues grew by 11.6% in 2019

US publishing body the NMPA held its annual meeting yesterday – the first time it’s been online. It included some new stats from president and CEO David Israelite. He revealed that US publishing industry revenues grew by 11.6% in 2019 to $3.72bn, making last year the fifth consecutive year of growth for the sector. However, the […]

Kobalt chairman thinks publishing revenues will dip in 2020

Recently, Goldman Sachs published a report with new predictions for music industry revenues in 2020, Covid-19 impact included. It forecast a 75% drop for live music revenues, but growth of 3% for recorded music and 3.5% for music publishing in 2020. Kobalt founder and chairman Willard Ahdritz isn’t so sure. “Overall I do believe that […]

Latin music revenues in US growing faster than overall market

The RIAA has published its annual year-end report on Latin (recorded) music revenues in the US, revealing that they grew by 28% to $554m in 2019. That’s more than double the rate of growth of the overall US market, which was 13% that year. $529m of those Latin revenues (i.e. 95%) came from streaming, helping the category […]

Facebook financials reveal ‘significant’ Covid-19 impact

You’d be forgiven for the tart reply ‘Well of course they do’ – even the world’s largest social network can’t be immune from the Covid-19 pandemic’s economic impact. “We experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of our ads, over the last three weeks […]

Alphabet’s Q1 included ‘significant slowdown in ad revenues’

It should come as no surprise that Covid-19 is figuring prominently in the Q1 financial results of every public company. Alphabet announced its figures yesterday, and warned that although its revenues were up 13% to $41.2bn in the first quarter of 2020, in March it saw a “significant slowdown in ad revenues”. YouTube is part of […]

Pandora ad revenues up but monthly listeners are still falling

US satellite radio firm SiriusXM published its Q1 financial results yesterday, including updated figures for its Pandora subsidiary. The good news for Pandora: its ad revenues were up 4% year-on-year to $241m. The not-so-good news: its monthly active users are still falling: down from just over 66 million a year ago to 60.9 million now. Ad-supported […]

Pollstar says 2020 global live revenues would have been $12.2bn

In the 1980s and 1990s, Bullseye was a popular darts-based British TV game show, complete with a ‘look at what you could have won’ element where losing contestants were shown the grand prize they’d just failed to win. It’s hard not to be reminded of that by Pollstar’s announcement on Friday of its estimate for what global live-music […]

Twitter users up but revenues hit due to coronavirus

Earlier this year, Twitter provided analysts with its financial guidance for the first quarter of 2020, predicting revenue of between $825m and $885m, and operating income between $0m and $30m. Yesterday, though, Twitter withdrew that guidance, due to the coronavirus pandemic. “While the near-term financial impact of this pandemic is rapidly evolving and difficult to measure, based on […]

RealNetworks filing reveals Napster revenues of $106.3m in 2019

The latest financial results from technology firm RealNetworks include figures for its Napster subsidiary: $106.3m of revenues for 2019. Napster’s cost of revenues for the year were $85.9m, with operating expenses of $25.8m leading to it recording an operating loss of $5.4m for the year. Napster’s revenues were $143.8m in 2018, which would indicate a 26.1% year-on-year […]

Netherlands recorded music revenues grew by 13.2% in 2019

Individual country figures for recorded music revenues in 2019 are coming thick and fast at the moment: the Netherlands remains part of the double-digit growth party. According to figures published by industry body NVPI Audio (and reported on by the NL Times) Dutch recorded music revenues grew by 13.2% last year to €206.8m (around $227.6m). Streaming […]

Tidal financials: its revenues grew by 26.4% in 2018 to $147.6m

Project Panther Bidco is the parent company of Aspiro Group, which in turn is the parent company of streaming service Tidal. Because Project Panther Bidco – originally created as the vehicle for Jay-Z to acquire Tidal – is based in the UK as a legal entity, it files financial results here. Cue figures on how Tidal’s […]

Spotify ended 2019 with 271m listeners and 124m subscribers

Spotify has published its latest financial results, for the final quarter of 2019, and thus the entire year too. The music streaming service ended 2019 with 271 million monthly active users (MAUs), up 31% year-on-year, having added 23 million in Q4, and 64 million over the year as a whole. 124 million of those active users […]

Sony Music revenues grew to $4bn in 2019, fuelled by streaming

Sony Music’s recorded music business saw its revenues grow by 11.4% year-on-year to $1.16bn in the final quarter of 2019, according to the latest financial results for its parent company. That included a 20.6% increase in streaming revenues to $669m, accounting for 57.7% of the total. Meanwhile, Sony’s music publishing business generated $365m of revenues […]

SiriusXM financials reveal latest numbers for Pandora

US music streaming service Pandora ended 2019 with 63.5 million monthly active users, representing an 8.5% decline year-on-year as the service lost 5.9 million listeners. Its total ad-supported listener hours for the year also fell, by 9.5%, to 13.4bn. However, Pandora ended 2019 with nearly 6.2 million ‘self-pay’ subscribers, having added 251,000 over the course […]

Facebook’s annual revenues grew by 27% to $70.7bn in 2019

Shock news: Facebook made a shedload of money in 2019! The social network’s latest financial results cover the final quarter of 2019, but also the full year. Facebook’s revenues grew by 27% year-on-year to $70.7bn, although its net profit narrowed from $22.1bn in 2018 to a mere $18.5bn in 2019. As for user metrics, Facebook ended 2019 […]

Gaana financials include growth in subscriptions revenue

We’ve seen lots of big numbers this year for the amount of people streaming music in India, but what is that growth in listeners meaning for the underlying financials of the platforms providing those streams? One of the biggest ones, Gaana, has just published some figures that offer an insight into its business, at least. […]

Napster Q3 revenues fell by 21.6% year-on-year to $27.3m

Technology firm RealNetworks has published its latest quarterly financial results, and as usual, they include figures for Napster, its music-streaming subsidiary. The key figure: $27.3m. That’s Napster’s revenues for the third quarter of 2019, which represents a 21.6% drop year-on-year from its $34.8m revenues in Q3 2018 (which in turn were down 18.7% on the $42.8m of revenues […]

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 […]

Amuse-commissioned study explores independent-artist revenues

Midia Research’s latest report explores the burgeoning independent-artists sector, commissioned by one of the companies – Amuse – that’s trying to help those independent artists break through. Some of its findings build on past Midia research. For example: “Artists without record labels generated $643.1 million in 2018, up 35% from 2017. These independent artists represent […]

Spotify’s relationship with publishers hits the rocks – again

A new Spotify / music publishing story broke on Friday, but there’s a bigger picture here: the increasingly-dispiriting story of the streaming service’s approach towards the publishing community, as well as the perception of Spotify by those publishers and songwriters. At a time when recorded-music revenues are going from strength to strength, what’s happening around […]

Mixcloud breaks down its revenue-sharing model for curators

Streaming service Mixcloud launched its Mixcloud Select program in December 2018, enabling listeners to subscribe to individual curators (or channels) for a monthly fee of $2.99 or above. Now the company has been explaining how the revenues are shared out, in a blog post noting the fact that Mixcloud’s direct licensing deals “identify the ‘long form […]

China’s music industry discusses social music-promotion

This weekend saw the ‘WISE’ conference take place in Beijing, with a lineup of Chinese and international speakers from the music and media industries. Music Ally was there to report back on some of the discussions relating to our industry: particularly a debate over how or if platforms like TikTok (Douyin in China) plan to […]

TuneCore reaches $1.5bn payouts, cites YouTube and Africa growth

Music distributor TuneCore has hit its latest milestone: $1.5bn of distribution revenue for its independent artists. That’s after earnings of $83m in the first quarter of 2019, up 21% year-on-year. This follows a 28% increase (to $308m) for TuneCore’s distribution income in 2018 as a whole. The company noted that YouTube monetisation showed particularly encouraging […]

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 […]

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 […]

‘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; […]

Report predicts $45.3bn of global streaming revenue by 2026

The rate of growth in global streaming revenues (retail, not trade) is going to slow down every year between now and 2026. Boo! But wait: those revenues are going to more than double between 2018 and 2026. Hurray! This is all according to Midia Research’s latest report, which forecasts that global streaming spending will grow from […]

Subscription streaming now more than half UK labels’ income

New figures from industry body the BPI show that streaming subscriptions accounted for 54% of British labels’ income in 2018, as the revenue from these subscriptions grew by 34.9% year-on-year to £467.6m (around $615m). That contributed to a 32.8% rise in all music-streaming revenues for labels to £516.4m, with ad-funded audio-streams generating £19.1m (up 25.8%) […]

Report: TikTok’s parent company lost $1.2bn in 2018

The recent $5.7m settlement between TikTok and the US Federal Trade Commission was the biggest ever fine in a child-privacy case. But the amount pales next to the amount TikTok’s parent company Bytedance lost in 2018, according to a report by tech site The Information. It claims that Bytedance’s losses were $1.2bn last year, after making […]

Esports economy tipped to pass $1bn for first time in 2019

When we wrote about the competitive-gaming (esports) market last year, we noted that many of the reports about that market’s size quoted from a February 2018 study by research firm Newzoo. Now it’s back again with some new predictions for 2019. “Revenues will reach an impressive $1.1 billion in 2019, a year-on-year growth of +26.7%,” claimed the company. […]

Analyst claims Instagram will make $14bn of revenues this year

Facebook doesn’t break out revenues for Instagram when publishing its financial results – just like Alphabet doesn’t give standalone figures for YouTube. That leaves a gap for analysts to fill with their own estimates. One, Jefferies, has put out a figure for Instagram. “We believe that Instagram is a material driver for growth in ’19 and […]

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