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...
July 6, 2021
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...
July 1, 2021
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...
July 1, 2021
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...
June 28, 2021
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...
June 18, 2021
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...
June 2, 2021
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...
May 11, 2021
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,...
May 7, 2021
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...
May 5, 2021
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...
April 29, 2021
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%....
April 29, 2021
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...
April 28, 2021