Tag: financials

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Apple talks music revenues: ’The business is growing again’

Another quarter, another strong set of financial results for Apple, which saw its revenues rise by 12% to $52.6bn in the third quarter of this year – the company’s fiscal Q4. Apple’s net profit for the quarter was...
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Pandora listeners down but CEO outlines plans for revival

Streaming service Pandora had some positive things to report in its quarterly financial results yesterday: it reached the milestone of one million Pandora Premium subscribers in October – that’s out of 5.2 million subscribers...
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Facebook revenues up 47% while net profit grows by 79%

Facebook has announced another strong set of quarterly financials, with the company’s revenues growing by 47% year-on-year to $10.33bn in the third quarter of 2017. The social network reported a net profit of $4.71bn...
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Streaming fuels strong rise in Sony Music revenues

This is a familiar tale by now: a major label announces its latest quarterly results, with revenue increases that would have been pie in the sky during the music industry’s 15-year decline, and with streaming as the prominent...
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Spotify ended 2016 with 7.1m monthly active users in the UK

Spotify’s UK subsidiary has filed its financial results for 2016, offering an insight into the company’s business in that country. The streaming service’s UK revenues grew by 27% to £237m (around $311.9m) with subscriptions...
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Financials reveal Shazam narrowed its losses to £3.7m in 2016

Shazam narrowed its net losses from £16.7m in 2015 to £3.7m in 2016 (around $4.9m) in a year when it said its app had more than 300 million annual active users. These details come from the company’s financial results...
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MelodyVR financials reveal £2.6m loss for first half of 2017

It’s no shock that music-VR startup MelodyVR is reporting losses: the company is pre-revenue, and has yet to launch its app commercially. The British firm’s financial results are useful in showing the costs of building...
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Vevo hopes for 30% growth after 2016 revenues of $500m

Vevo has been talking about the growth in its advertising business, with the music-videos service having taken in $500m in 2016. Chief sales officer Kevin McGurn told Business Insider that Vevo is expecting 30% growth...
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2017 was a billion-dollar distribution year for BMI

US performance-rights organisation BMI has announced a strong set of figures for its 2017 fiscal year, which ended recently. The company generated $1.13bn of revenues, distributing just over $1.02bn to songwriters, composers...
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BMG revenues and profits both up in first half of 2017

It wasn’t just Universal Music posting new financials this week. BMG (through its parent group Bertelsmann) has also revealed its latest figures, with encouraging growth in both revenues and profits. BMG generated revenues...
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Streaming generated $1.3bn for major music labels in Q2 2017

The three major labels – Universal Music, Sony Music and Warner Music – saw their collective recorded-music revenue from streaming grow to just under $1.3bn in the second quarter of 2017. That represents 38.5% growth...
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Snap shares fall as net losses continue to grow

Snapchat’s parent company Snap reported its latest quarterly financial results overnight, and the sight of its share-price plummeting tells you what the markets thought of the figures. The company’s revenues were up...