Tag: financials

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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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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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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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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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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...
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Spotify expects to have up to 96m subscribers by Christmas

Spotify has published some guidance on its financial outlook for 2018, including predicting that it will have 92-96 million premium subscribers by the end of the year. That would represent annual growth of between 30%...
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Spotify files for its DPO: so what do you need to know?

“Feels great to have the cat out of the bag. Transparency breeds trust,” tweeted Spotify CEO Daniel Ek last night. The cat in this instance being Spotify’s long-awaited filing for its direct public offering (DPO), which...
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Live Nation reported record revenues of $10.3bn for 2017

2017 was a good year for Live Nation in financial terms, with the live-entertainment giant’s revenues rising by 24% to $10.3bn last year, according to its latest financial results. 86 million people attended concerts...
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LiveXLive approved for NASDAQ listing after Slacker acquisition

Digital music firm LiveXLive, which focuses on live-music videos as well as its recently-acquired streaming service Slacker Radio, has been approved to list on the public NASDAQ market. Boss Rob Ellin described it as “an...
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Pandora subscriptions revenue spikes but active listeners fall

Pandora published its latest quarterly financial results last night, with some positive figures to report around its premium subscriptions business, and some more concerning stats around its overall listenership. The streaming...
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Mobile games developer Supercell made $2.03bn in 2017

Finnish mobile games firm Supercell has published its financial results for 2017, revealing that it made $2.03bn of revenues, and a profit of $810m. The twist: the company did that without even releasing a new game that...