Tag: financials

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Hipgnosis financials reveal growth and future plans

Hipgnosis is spending a LOT of money buying up music catalogues, but is it making much money from managing them? The company's latest annual report offers new insight into its business, and how founder Merck Mercuriadis...
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7digital financials reveal Covid-19’s impact on its business

B2B digital music firm 7digital published its financial results for 2020 yesterday, with its revenues from ongoing operations falling by 20% to £6.5m (around $9m). However, the company narrowed its operating loss from...
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Kobalt financials reveal $53m operating loss for fiscal 2020

Kobalt has announced that it turned a profit in its latest fiscal year, although that announcement was accompanied by financial results for the previous year showing its operating losses growing. We’ll take the results...
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MelodyVR ended 2020 with 325k users… and a £26m operating loss

Since completing its merger with Napster, music startup MelodyVR has adopted that company’s brand. However, this morning it published financial results for its last full year before the deal, to 28 December 2020. Bright...
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TikTok owner ByteDance’s revenues grew 111% to $34bn last year

There is regularly speculation about how much money TikTok’s parent company ByteDance is making, but now we have some official figures courtesy of its new CEO Liang Rubo’s memo to employees at the company, reported...
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Epidemic Sound publishes financial results for 2020

You’ll need to speak Swedish (or have Google Translate and plenty of patience) to dig properly through production music company Epidemic Sound’s annual financials. Thankfully, the company has published an English-language...
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Roblox financials reveal it now has 43.3m daily active users

Games firm Roblox is firmly on the music industry map now, and since it’s a public company we get a quarterly insight into its growth and financials. Roblox published its Q1 results last night, revealing that it generated...
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Live Nation hails ‘significant pent-up demand’ for concerts

As trials of Covid-safe concerts continue around the world, there is light at the end of this pandemic tunnel for the live music industry. Live Nation was certainly focusing on the positive in its latest financials report,...
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Warner Music Group’s Q1 revenues grew by 17% year-on-year

Warner Music Group published its latest financial results yesterday, for the first quarter of 2021 – the company's fiscal Q2. It saw revenues grow by 17% year-on-year to $1.25bn, including growth of 17% for its recorded...
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Facebook Q1 revenues grew 48% year-on-year to $26.2bn

Here’s more evidence that the biggest ad-supported tech companies are over their Covid-19 bumpiness from 2020. Facebook published its Q1 2021 financial results last night, revealing that its revenues grew by 48% year-on-year...
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Apple’s bumper financials include 660m paid subscriptions

In a week of big-tech financial results, Apple’s stand out as particularly spectacular. The company generated revenues of $89.58bn in the first quarter (its fiscal Q2) of 2021: a startling year-on-year rise of 53.6%....
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Spotify ended Q1 2021 with 158m subscribers (and a profit)

Spotify has published its financial results for the first quarter of 2021, revealing that by the end of March it had 356 million monthly active users, including 158 million premium subscribers. The company says it added...