Music Industry News

Tencent Music Earnings Surge 31% In the Latest Quarter

Tencent Music Entertainment Group has released its third-quarter financials for 2019, with revenue surging a staggering 31% and beating the expectations of Wall Street analysts. In spite of the news, shares of the company are down by more than 7% at the time of this writing. While revenue at the company during the period rose […]

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Music Industry News

CISAC Collections Reach a Record €9.7 Billion

Digital revenue in 2018 helped the International Confederation of Societies of Authors and Composers (CISAC) achieve a record €9.65 billion in global royalty collections. On November 7, the organization, which represents 232 music societies in 120 nations (which, in turn, represents over 4 million music artists), released its 2019 Global Collections Report. Jumping out in the report was […]

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Music Industry News

Napster Quarterly Revenues Drop as Shift Towards B2B Continues

On November 6, RealNetworks, which is the parent of Napster, released its 3rd quarter financials for 2019, with revenue at the music streaming service dropping precipitously as the company shifts toward B2B. Napster generated $27.3 million in revenue for the quarter ending September 30, down 21.6% from the $34.8 million it generated in the same […]

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Music Industry News

Live Nation Misses Q3 Earnings Estimates as Concert Revenue Slips

On October 31, Live Nation reported its 3rd quarter financials, with its numbers disappointing many on Wall Street. In the period ending September 30, the ticket seller and concert promoter recorded an earnings per share (EPS) of $0.71, which was more than 10% lower than the consensus estimate of $0.79. While its EPS was considerably […]

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Music Industry News

SiriusXM Adds 210,000 Subscribers This Quarter ⁠— Pandora Subscribers Plunge

SiriusXM’s financials reveal the company added roughly 210,000 net subscribers, while earnings slipped substantially.  The story at Pandora wasn’t rosy. The company’s third-quarter 2019 total revenue was $2.0 billion, which increased by 37% compared to last year. That boost comes from the completion of the acquisition of Pandora Media in February this year. SiriusXM reported net […]

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Music Industry News

Apple Reports Record Services Revenue, Tops Earnings Estimates

Apple just released its 4th quarter financials for the period ending September 30, in which services such as Apple Music generated a record $12.5 billion in revenue. Services revenue at the company increased a whopping 18% over the same period in 2018. These services include the following: Apple Music App Store Apple Pay iCloud On […]

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Music Industry News

What Plateau? Sony Music Quarterly Streaming Revenues Boom 21%

Earlier today, Sony Music reported its second-quarter financial results for 2019, with music streaming driving a sharp increase in revenues. In the period ending September 30th, Sony Music reported an operating income of 37.5 billion yen ($344 million), which is a 19% increase over the same period the year before. These results include the following operations: Sony […]

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Music Industry News

Spotify Hits 113 Million Paying Subscribers Worldwide — Says They’re Crushing Apple Music and Amazon

Spotify posted better-than-expected quarterly results this morning. But are they really crushing Apple Music and Amazon? In a bold and bullish quarterly announcement this morning, Spotify CEO Daniel Ek and his lieutenants were trumpeting some better-than-expected stats.  That includes a premium subscriber count that now stands at 113 million, a 31% jump over the same […]

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Music Industry News

7digital Continues to Crash — Revenues Plunge During the First Half of 2019

7digital is still in serious trouble — but the digital music company promises ‘operational profitability’ in 2020. Earlier today, digital music and radio services platform 7digital announced that revenues at the company fell sharply during the first half of the year.  At the same time, they announced a plan to raise nearly £2 million ($2.5 […]

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Music Industry News

BMI Says It Just Posted the Most Successful Financial Year of ‘Any Music Rights Organization In the World’

It was a record-breaking year for BMI. The music rights management conglomerate reported that its annual revenue for the fiscal year ending June 30, 2019 was nearly $1.3 billion. This represents an increase of 7% from the preceding year. It was also a record year for BMI’s songwriters, composers and publishers. The company’s distributions were […]

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