Snapchat now has 249m daily active users and booming AR usage
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...
October 21, 2020
Netflix growth slows but 200m subscribers milestone is in sight
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...
October 21, 2020
Vivendi reveals latest UMG financials and IPO plans for 2022
With Warner Music Group and Big Hit Entertainment having gone public this year, Vivendi has confirmed that Universal Music Group is pressing ahead with its own plans for an IPO – but not this year or next. “An IPO...
October 21, 2020
WMG set for $338m acquisitions (and possibly revenue decline)
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...
October 20, 2020
Epidemic Sound revenues grew in 2019; so did operating losses
Swedish production music company Epidemic Sound saw its revenues grow by 66% to SEK 375.3m (around $42.1m) in 2019, but the company's operating losses grew by 152% to SEK 206.7m ($23.2m) according to its financial results. MBW...
October 7, 2020
7digital says it’s on track for operational profitability
Earlier this month, B2B digital music firm 7digital announced that it was raising £6m ($7.7m) from selling shares, to support its business. Now the company has added a further £1m, this time from a new revolving credit...
September 29, 2020
Amuse financials reveal $9.5m revenues but $10.9m net loss
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...
September 24, 2020
NetEase Cloud Music saw ‘triple-digit revenue growth’ in Q2
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...
August 17, 2020
Beggars Group financials reveal £63.1m revenues for 2019
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...
August 14, 2020
China’s Twitch equivalent DouYu has 165.3m monthly users
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...
August 13, 2020
Tencent Music now has 47.1m paying online-music users
Tencent Music published its latest financial results this morning, revealing that its number of 'online music paying users' grew by 51.9% year-on-year to 47.1 million people in Q2 2020. The Chinese streaming giant's revenues...
August 11, 2020
LiveXLive financials reveal revenues of $10.5m for Q2 2020
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...
August 10, 2020