Chinese streaming giant Tencent Music’s latest financial results are a mixed bag. Profits doubled but revenues declined. The post Tencent Music shares fall after financials show revenue decline appeared first on Music Ally. Source: Music ally

Distributor Believe published its annual financial results yesterday, and they showed a strong 2022 for the company. The post Believe financials reveal its revenues grew by 31.8% in 2022 appeared first on Music Ally. Source: Music ally

US-based PRO ASCAP has published its figures for 2022, revealing that its collections passed $1.5bn for the first time ever. The post ASCAP’s annual collections passed $1.5bn for first time in 2022 appeared first on Music Ally. Source: Music ally

Middle Eastern and North African streaming service Anghami has published preliminary financial results for 2022. The post Anghami revenues up 35.6% in 2022 as it passed 1.5m subscribers appeared first on Music Ally. Source: Music ally

Economic crisis? What economic crisis? Certainly when it comes to Universal Music Group’s financials, the numbers continue to be buoyant. The post UMG sees strong growth in recordings and publishing alike appeared first on Music Ally. Source: Music ally

Deezer published its latest financial results yesterday, hailing 2022 as a “successful” year on the grounds of a 13% growth in annual revenues. The post Deezer financials show revenue growth but a dip in subscribers appeared first on Music Ally. Source: Music ally

Live music revenues are growing again, after the massive hit caused by Covid-19 and its resulting lockdowns. The post Live Nation: concerts are ‘one of the last experiences fans will cut back on’ appeared first on Music Ally. Source: Music ally

The parent company of Chinese music service NetEase Cloud Music has published its latest financial results. The post NetEase Cloud Music ended 2022 with 38.3m paying music users appeared first on Music Ally. Source: Music ally

Ever since streaming service Tidal was acquired by fintech firm Block, we’ve been getting regular insights. The post Latest Block financials offer an insight into Tidal revenues appeared first on Music Ally. Source: Music ally

South Korean music company Hybe enjoyed another bumper year in 2022, with its revenues growing 41.6% to 1.78tn won. The post K-Pop giant Hybe’s revenues grew 41.6% to $1.36bn in 2022 appeared first on Music Ally. Source: Music ally

There were some slightly worrying signs for gaming firm Roblox last year: falling user numbers and revenues, and a declining share price. The post Roblox shares soar after better-than-expected financial results appeared first on Music Ally. Source: Music ally

If you need another nudge on music streaming’s boom times facing their biggest challenge yet, yesterday’s WMG financials may provide it. The post WMG revenues fall but new CEO says ‘music is still undervalued’ appeared first on Music Ally. Source: Music ally

Mdundo is one of the well-established music streaming services in Africa, and as a public company we get a regular insight into its growth. The post African streaming service Mdundo now has 23.4m active users appeared first on Music Ally. Source: Music ally

Distributor Believe isn’t publishing its financial results for 2022 until mid-March, but it’s pulling a stat out early to trumpet its success. The post Believe hails its billion-euro digital sales year in 2022 appeared first on Music Ally. Source: Music ally

SiriusXM has published its year-end financial results for 2022. Overall, its business held up to the year’s economic headwinds well. The post SiriusXM hits self-pay record but Pandora is still declining appeared first on Music Ally. Source: Music ally

Alphabet published its latest financials yesterday and they reveal a worrying trend for YouTube: a decline in its advertising revenues. The post YouTube’s ad revenues were down 7.8% in final quarter of 2022 appeared first on Music Ally. Source: Music ally

It’s peak financial results season, with Apple and Amazon announcing their latest numbers yesterday, with mixed performances. The post Apple and Amazon publish their financial results for Q4 2022 appeared first on Music Ally. Source: Music ally

Music licensed to Spotify by the three major labels and indie licensing agency Merlin accounted for around 75% of Spotify streams in 2022. The post DIY artists now account for a quarter of Spotify’s music streams appeared first on Music Ally. Source: Music ally

After emerging as one of the big winners of the early lockdowns in the Covid-19 pandemic, fitness firm Peloton has been enduring tough times. The post Peloton CEO says the company’s ‘epic comeback’ is underway appeared first on Music Ally. Source: Music ally

Snapchat’s parent company Snap announced its latest quarterly financial results yesterday. Its app ended 2022 with 375 million daily users. The post Snapchat ended 2022 with 375m users but flat revenue growth appeared first on Music Ally. Source: Music ally

Spotify has published its financial results for the fourth quarter of 2022, and thus for the entire year. The post Spotify ended 2022 with 205m subscribers and 489m active users appeared first on Music Ally. Source: Music ally

The big news from Netflix’s financial results yesterday was that its co-founder Reed Hastings is stepping down from his co-CEO role. The post Netflix is adding subscribers again, as its founder steps down appeared first on Music Ally. Source: Music ally

Roblox is one of the publicly-listed tech companies that has been enduring a rocky time on the markets in recent times. The post Roblox reports strong December metrics with 61.5m daily users appeared first on Music Ally. Source: Music ally

Moonbug Entertainment has become one of the biggest players in children’s music and YouTube videos, according to its latest financial results. The post Kids entertainment firm Moonbug’s revenues grew 148% in 2021 appeared first on Music Ally. Source: Music ally

SoundCloud doesn’t describe them as listeners, we should note. The post SoundCloud ended 2021 with 130m listeners and 19.2% revenue growth appeared first on Music Ally. Source: Music ally

Hipgnosis Songs Fund enjoyed a good run as a media darling, with warm coverage of its ambition to make songs a lucrative asset class for investment. The post Hipgnosis reveals 7.5% revenue rise in its half-year results appeared first on Music Ally. Source: Music ally

We don’t have the latest financial results from NetEase Cloud Music yet, but we do have some numbers from Cloud Village’s majority shareholder NetEase. The post NetEase Cloud Music revenues grew by 22.5% in Q3 2022 appeared first on Music Ally. Source: Music ally

WMG had another strong quarter in Q3 2022, with its financial results revealing a 9% year-on-year growth in the major’s revenues. The post Warner Music Group revenues grew 9% to $1.5bn in Q3 2022 appeared first on Music Ally. Source: Music ally

Middle Eastern and North African music streaming service Anghami has published its financial results for the third quarter of 2022. The post Anghami revenues grow but 22% of its staff have been laid off appeared first on Music Ally. Source: Music ally

Chinese music-streaming giant Tencent Music Entertainment (TME) has published its financial results for the third quarter of 2022. The post Tencent Music revenues fall, but its online music business is still growing appeared first on Music Ally. Source: Music ally

Music rights firm Reservoir Media has published its latest financial results, revealing that its revenues grew by 10% year-on-year. The post Reservoir financials reveal 10% growth in Q3 revenues appeared first on Music Ally. Source: Music ally

Fintech firm Block is a.) the owner of music service Tidal, and b.) a public company, so its quarterly results give us an insight into how Tidal is performing. The post Block financials hint at $56m of quarterly Tidal revenues appeared first on Music Ally. Source: Music ally

Live Nation has hailed “record levels” of demand for concerts in the third quarter of this year, but there may be some regulatory clouds gathering for its ticketing business in the US, encouraged from the very highest level of US politics. The post Live Nation posts strong Q3 but Biden tweet spells trouble ahead appeared […]

Business continues to be very good for distributor Believe, which announced its Q3 2022 financial results yesterday. The post Believe reports 36.9% growth in its Q3 2022 financial results appeared first on Music Ally. Source: Music ally

“For the last nine months my goal has been to turn around Peloton and position it for sustained growth and scale. The post Peloton lost 200,000 members in the third quarter of 2022 appeared first on Music Ally. Source: Music ally

K-Pop giant Hybe has published its financial results for the third quarter of 2022. The post Hybe revenues grow and Com2uS buys stake in SM Entertainment appeared first on Music Ally. Source: Music ally

US satellite radio firm SiriusXM has published its financial results for the third quarter, including the latest figures for its music-streaming service Pandora. The post Pandora ad revenues increase but listener total still falling appeared first on Music Ally. Source: Music ally

Deezer is the latest digital music company to publish its financial results for the third quarter of 2022. The post Deezer revenues rise but subscriber total declines slightly appeared first on Music Ally. Source: Music ally

Universal Music Group has reported another strong quarter, with its Q3 revenues up 23.7% year-on-year to €2.66bn ($2.65bn) – or up 13.3% at constant currency, which translates last year’s figures to today’s exchange rates. Whichever metric you go with, UMG’s business is growing well. The post Universal Music Group Q3 revenues up 23.7% year-on-year appeared first on […]

Business is still good for Apple: the tech giant posted record quarterly revenues in Q3 this year (its fiscal Q4), up 8% year-on-year to $90.15bn. The post Apple services revenue up 5% as subscribers top 900m appeared first on Music Ally. Source: Music ally

YouTube’s advertising revenues were down 1.9% year-on-year in Q3: a rare decline for one of tech firm Alphabet’s key business lines. The post Alphabet financials reveal decline in YouTube ad revenues appeared first on Music Ally. Source: Music ally

The cost-of-living crisis isn’t biting yet for Spotify’s premium business. It’s expecting to cross the 200m milestone by the end of this year. The post Spotify reaches 195m subs and hints at future price rise appeared first on Music Ally. Source: Music ally

Why is Spotify not suffering in the markets quite like its big-tech peers? The post Spotify’s audio ad revenue shows possibility for more growth appeared first on Music Ally. Source: Music ally

News that the FTC wants to block its acquisition of music VR app Supernatural wasn’t the only piece of bad news for Meta yesterday. The post Meta financials reveal a year-on-year decline in revenues appeared first on Music Ally. Source: Music ally

Hipgnosis Songs Fund published its latest annual financial results yesterday, for the fiscal year ended 31 March. The post Hipgnosis says its portfolio is now worth $2.69bn appeared first on Music Ally. Source: Music ally

Tidal’s owner Block is a public company, so we’re getting quarterly insights into how the streaming service’s own financials. The post Block financials hint at Tidal’s latest revenue figures appeared first on Music Ally. Source: Music ally

The live industry’s efforts to bounce back from Covid-19 continue, with Live Nation hailing Q1 2022 as its “best first quarter ever”. The post Live Nation’s Q1 2022: ‘Fan demand has never been stronger’ appeared first on Music Ally. Source: Music ally

SiriusXM’s latest financial results reveal that Pandora still hasn’t managed to reverse its long-term decline in listeners. The post Pandora listener decline continues with SiriusXM financials appeared first on Music Ally. Source: Music ally

No surprise that Apple continues to be in rude health as a business, posting revenues of $92.28bn in the first quarter of 2022. The post Apple’s services are now bigger than Mac and iPad combined appeared first on Music Ally. Source: Music ally

It’s financials week for many of the biggest technology companies, including Amazon and Twitter. The post Amazon and Twitter publish their Q1 2022 financial results appeared first on Music Ally. Source: Music ally

We reported yesterday on Spotify’s latest financial results, as the company added a net two million subscribers in Q1 2022 despite losing around 1.5 million by pulling out of Russia. The post Spotify’s latest financials drop its market cap to $18.62bn appeared first on Music Ally. Source: Music ally

US satellite radio firm SiriusXM published its Q4 financials yesterday, revealing that its revenues for 2021 as a whole grew by 8% to $8.7bn. The post SiriusXM added 1.2m subscribers in 2021 but Pandora lost 6.6m listeners appeared first on Music Ally. Source: Music ally

YouTube and Google’s parent company Alphabet published its latest financial results yesterday, including figures for the growth of YouTube’s advertising business. The post YouTube advertising revenues grew by 46% to $28.8bn in 2021 appeared first on Music Ally. Source: Music ally

Merger completed with MelodyVR, Napster today offered the first half-year figures for the combined company. The post Napster reports $44.2m revenues for the first half of 2021 appeared first on Music Ally. Source: Music ally

Spotify’s management team talked about a lot of things in the company’s ‘Stream On’ event earlier this week, but one announcement was saved for later. Yesterday the streaming services announced plans for an ‘exchangeable senior notes offering‘ from its US subsidiary to raise $1.3bn. It’s debt funding, essentially. “The notes will be senior, unsecured obligations […]

K-Pop giant Big Hit Entertainment had an excellent 2020 despite the Covid-19 pandemic. Its financial results, published yesterday, revealed that the company behind BTS’s revenues grew by 36% last year to KRW 796.3bn (around $716.7m). The breakdown is very interesting too. Concert revenues dropped off a cliff, unsurprisingly: down 98% to KRW 3.4bn. However, album sales […]

Here’s another one for the list of music companies thriving during the Covid-19 pandemic. Sony Music reported overall music revenues of ¥187.11bn ($1.79bn) in the final quarter of 2020 – its fiscal Q3. That’s up 13% year-on-year (in yen). Within that, recorded music revenues grew by 12.8% to ¥142.1bn ($1.36bn) while publishing revenues grew by 13.3% to […]

We reported yesterday on Spotify’s latest financial results, including decent growth in users, subscribers and revenues. Yet by the end of the day, the company was worth $5.37bn less than the day before, as its share price fell by 8.2%. Caveat: that still means a market cap of $60.15bn, more than double what Spotify was worth a […]

Facebook and Apple both announced their latest quarterly financial results yesterday, with strong growth in revenues despite the Covid-19 pandemic. Facebook’s Q4 revenues were up by 33% year-on-year to $28.07bn, helping the social network turn a net profit of $11.22bn. It had 1.84 billion daily active users (up 11% year-on-year); 2.8 billion monthly active users (up […]

Saregama is one of the Indian media firms focusing on both music and films – and, indeed, music for/from films. Its latest financial results reveal that the business is holding up despite the Covid-19 pandemic’s effects on India’s movie industries. Saregama’s quarterly revenues were up by 7% year-on-year to 134.6 crore rupees (around $18.5m) even though its […]

US livestreaming and podcasts firm LiveXLive is a public company, so it’s one of the few companies in that space whose numbers we get quarterly insights into. The numbers for Q3 follow its historical pattern: growing revenues, but also net losses. LiveXLive saw its revenues grow by 51.9% year-on-year to $14.6m last quarter, but it recorded […]

There are few surprises in the latest quarterly financial results for Live Nation. Revenues were down 95% year-on-year – slashed from $3.77bn in Q3 2019 to just $184m a year later. The live giant reported an operating loss of $504.4m, compared to an operating profit of 260m a year ago. For the first nine months of 2020, […]

Canadian collecting society Socan has published its financial results for 2019. Its collections grew by 8.2% to $405.6m, including a 37.6% increase for its digital collections to $86m. However, distributions to its members fell by 6% to $296m, which Socan said was due to “the steep learning curve required for the company’s newly deployed technology to […]

Sony Corporation’s latest quarterly financials came out yesterday, and they revealed a strong quarter for Sony Music. Its Q3 recorded music revenues grew by 11% year-on-year to $1.16bn, including 19% growth in streaming revenues – which reached $742.3m. This, despite the fact that Sony Music’s release schedule is still under pressure from the Covid-19 pandemic. “The release of […]

Music streaming service Spotify has announced its latest quarterly financial results. The company ended Q3 with 320 million monthly active users, having added 21 million during the quarter. Meanwhile, Spotify’s subscriber total is now 144 million, up from 113 million a year ago, and 138 million at the end of Q2. Spotify’s Q3 revenues grew […]

US satellite-radio firm SiriusXM published its latest financials yesterday, revealing that it now has nearly 30.5 million ‘self-pay’ subscribers to its service, having added 169,000 in the third quarter of this year. Its revenue grew by 1% year-on-year to $1.6bn. Its music streaming subsidiary Pandora is still battling to turn around its listener decline though. Pandora […]

In our latest Music Ally report, we examined how Snapchat had bounced back from a worrying-looking flattening of its user growth in 2018. That bounceback is continuing, judging by parent company Snap’s financial results for Q3 2020. Snap said that Snapchat ended the quarter with 249 million daily active users (DAUs), up by 18% year-on-year. It also […]

Netflix warned investors that its subscriber growth was going to slow in the second half of this year, and it has. The video streaming service added 2.2 million net new paid subscribers in the third quarter, taking it to just under 195.2 million overall. Netflix also said that it expects to pass 200 million subscribers (201.2 […]

It was a busy day for Warner Music Group yesterday, with several interrelated announcements. First, there was news of the company raising $250m of new funding through a ‘senior secured notes offering’ to be spend to “fund a portion of the aggregate cash consideration for certain acquisitions”. Later that day, a US regulatory filing offered more information on those […]

Swedish distribution startup Amuse is one of the more disruptive music/tech companies to have emerged in recent years, but is it a profitable one? Not yet. The company’s financial results for 2019 show that it generated revenues of SEK 85.1m (around $9.5m), which was impressive 209% growth year-on-year. However, the company’s net losses nearly doubled […]

Chinese technology firm NetEase published its latest financial results last week, with no new figures for its NetEase Cloud Music streaming service. However, the service was mentioned in the subsequent earnings call with analysts. “For NetEase Cloud Music, we continued to see triple-digit revenue growth in the second quarter year over year, with both membership and […]

Independent label Beggars Group has filed its latest annual financial results with Companies House in the UK. The company’s revenues fell from £74.2m in 2018 to £63.1m in 2019. The report notes that the 2018 figure was skewed by Beggars’ revenues from the sale of Spotify shares after the streaming service went public. “Like for like we […]

We haven’t written about DouYu before, because the Chinese livestreaming video platform is focused on games rather than music. The numbers are startling though: according to its latest financial results, DouYu averaged 165.3 million monthly active users in the second quarter of this year, including 58.4 million people on mobile devices. Meanwhile, DouYu generated RMB 2.51bn […]

US music-streaming and livestreaming company LiveXLive has published its latest financial results, including a new record for quarterly revenues: $10.5m. That’s in the second quarter of 2020 (its fiscal Q1), with those revenues having grown by 11% year-on-year. The company reported a net loss of $7.5m though, although at least that was down from $11m this […]

Having published its latest financial results this morning, Warner Music Group held its quarterly earnings call this afternoon, with CEO Steve Cooper and CFO Eric Levin fielding questions from analysis. One of those questions focused on Spotify’s podcasts expansion, and whether it’s causing tensions around the potential impact on royalties paid out to companies like […]

Warner Music Group has published its latest quarterly financial results, for its fiscal third quarter (calendar Q2). They reveal the impact that the Covid-19 pandemic continues to have on its business. WMG generated revenues of $1.01bn last quarter, down by 4.5% year-on-year. However, its digital revenues grew by 11% to $720m as part of that, […]

The early weeks of the Covid-19 pandemic’s global spread didn’t hamper Spotify’s growth in the first quarter of this year. But how about Q2, the first full quarter (near enough) of lockdowns, furloughs and financial uncertainties across much of the world? Today we have our answer, with Spotify’s latest quarterly financial results. The post Spotify […]

The key Covid-19 trends for social media seem clear: spikes in users and engagement (because lots more people are at home doomscrolling through their feeds) but big challenges to ad revenues, with brands holding back their budgets. Twitter’s latest financial results are the latest evidence for both. The company averaged 186 ‘monetisable daily active users’ (mDAUs) in the […]

Virtual reality music startup MelodyVR has published its financial results for 2019. The company’s revenues were £195k ($242k) last year, down from £1.2m in 2018. MelodyVR’s content sales – people paying to watch VR music performances in its catalogue – nearly doubled from £19k to £36.7k, but its revenue from content licensing dropped from just under £1.2m […]

Warner Music Group’s initial public offering launches today, with the music group offering 70m shares in a public offering whose price is expected to be between $23 and $26 per share. “The offering consists entirely of secondary shares to be sold by Access Industries, LLC and certain related selling stockholders,” explained WMG in its announcement. […]

Warner Music Group’s initial public offering launches today, with the music group offering 70m shares in a public offering whose price is expected to be between $23 and $26 per share. “The offering consists entirely of secondary shares to be sold by Access Industries, LLC and certain related selling stockholders,” explained WMG in its announcement. […]

Tech firm RealNetworks has published its quarterly financial results, including as usual figures for music-streaming firm Napster, in which it holds an 84% stake. Napster’s subscription revenues grew from $24.3m in the first quarter of 2019 to $26.3m in the first quarter of 2020: an 8.2% rise, albeit one that reflects the small scale of the […]

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 […]

Spotify CEO Daniel Ek and CFO Paul Vogel have been fielding questions from analysts following the company’s publication of its Q1 2020 financial results earlier today, and their interview with Music Ally shortly afterwards. There were not many surprises, but Ek’s desire to (as he described it several times) “uplevel” the conversation around Spotify and […]

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 […]

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 […]

With recent reports that audio music streams had fallen during the Covid-19 pandemic, we’ve been waiting for Spotify’s Q1 2020 financial results with a mixture of anticipation and trepidation. Would they reveal a decline in listening, but more importantly, about an impact on paid subscriptions? The figures are out, and it’s good news – for now […]

US live-music and streaming firm LiveXLive has published its latest financial results, including a warning about the company’s financial viability over the next 12 months. LiveXLive generated $9.7m of revenues in the final quarter of 2019, up by 8.2% year-on-year. However, operating expenses of $17.6m nudged the company into its latest quarterly net loss – $8.8m – while […]

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 […]

A symbolic moment for Twitter almost 14 years after its founding: for the first time, its quarterly revenues surpassed $1bn ($1.01bn, to be precise, an increase of 11% year-on-year). The company’s share price rose on the news, following fears that its advertising revenues were slowing down. Twitter uses its own metric of MDAUs (monetisable daily active users) […]

Social app Snapchat ended 2019 with 218 million daily active users, having added 31 million during the year as a whole – 17% year-on-year growth. That’s according to parent company Snap’s latest financial results, which were published yesterday. Is that growth in users helping Snap to turn a profit? No, it is not. Snap’s annual revenues grew […]

Spotify published its latest quarterly financial results earlier today, followed by an earnings call with analysts in which CEO Daniel Ek talked about its just-announced acquisition of media and podcasts firm The Ringer. “If you up-level this conversation and think 10 years out, the trend we’re investing in is that radio is moving online, because […]

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’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 […]

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 […]

Netflix published its latest quarterly financial results yesterday, including its full-year figures for 2019. In that year, the company’s revenues reached $20.16bn, with its Q4 total of $5.47bn representing 30.6% growth year-on-year. Netflix ended 2019 with 167.1 million global streaming paid memberships, up 20% year-on-year having added nearly 8.8 million net new subscribers in the […]

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. […]

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 […]

Spotify has announced its latest financial results, for the third quarter of 2019. The streaming service now has 248 million monthly active users (MAUs), up 30% year-on-year, having added 16 million in Q3. 113 million of those users are premium subscribers: 31% growth in the last year, with five million having been added during last quarter. […]

Shares in video-streaming service Netflix rose last night, after the company announced its latest financial results. This, despite actually missing one of its key targets for the third quarter of 2019. “In Q3, we grew to $5.2 billion in revenue, up 31% over the prior year, and operating income doubled to $1.0 billion. Paid net […]

Audio-streaming service Mixcloud has published its financial results for 2018 through Companies House in the UK: and unlike in previous years, the accounts have been published without a small-company exemption, thus giving us an insight into the firm’s growth and profitability. The key figures: Mixcloud’s revenues in 2018 were £2.44m (around $3.1m), which was growth […]

Entertainment One (eOne), which owns Peppa Pig among other media properties, has reported that its pre-tax losses for the first fiscal quarter grew to £43.9m – significantly up from £6.8m a year earlier. Revenues dropped 7% to £173.1m and the company stated that this slip was due in part to “lower Film, Television and Music [unit […]

Shazam reached 478 million annual active users in 2018, which is 78 million more than in the previous year. The company’s revenues fell by 23% to £31.4m last year, but it swung from a loss of £17.7m in 2017 to a profit of just under £124m in 2018.  That’s the benefit of being bought by […]

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 […]

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 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 […]

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 […]

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 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 […]

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 […]

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 […]

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 […]

“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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 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’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 […]

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 […]

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 […]

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 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 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 […]