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Global recorded-music revenues grew by 8.1% in 2017 says IFPI

The global recorded-music market was worth $17.3bn in 2017, up 8.1% on 2016 in what was a third consecutive year of growth for the industry. This is according to the IFPI’s Global Music Report, which is being published...
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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...
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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...
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Amazon now has 100m paid Prime members globally

‘Divinely discontent’ customers, perfect handstands, six-page narratives… There’s quite a lot to parse in Amazon CEO Jeff Bezos’ latest letter to shareholders: it’s an interesting insight into how he sees the...
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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...
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Analyst predicts 2m-2.5m Apple HomePod sales in 2018

Predicting Apple device sales is a risky business, especially if you’re saying they’re going to disappoint: the company has a habit of proving naysayers wrong. Still, research firm KGI’s analyst Ming-Chi Kuo’s...
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Cardi B album races to 100m first-week streams on Apple Music

It’s been at least a few days since the last Apple Music vs Spotify stream-count battle, so take a bow Cardi B, who’s the latest artist to be sending records tumbling in the streaming world. Her album ‘Invasion of Privacy’...
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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...
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Report claims VR and AR apps market was worth $3.2bn in 2017

How lucrative was the market for virtual and augmented reality (VR and AR) apps in 2017? According to research firm IHS Markit, it was worth $3.2bn, representing 72% growth from 2016. Of that, $2bn came from apps with...
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German PRO GEMA reports 5% growth in revenues for 2017

German collecting society GEMA announced its latest financials yesterday, with its revenues growing by 5% to €1.07bn in 2017. The PRO also hailed the latest lowering in its costs – now down to 15% – despite continued...
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British labels’ 10.6% revenue rise is ‘fastest since Britpop’

British industry body the BPI has published its official label-income figures for 2017, covering recorded-music revenues in the UK. They show a 10.6% rise to £839.4m, with the chosen angle being that this is the fastest...
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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...