Tencent Music (TME) has been dealing with the close interest of the Chinese authorities in its business practices recently…
Tag: Financials
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German recorded revenues grew 12.4% in first half of 2021
German industry body BVMI has published figures for recorded music there in the first half of 2021, with revenues up by 12.4% year-on-year as the market continues to evolve.
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Sony Music announces continued upswing in quarterly earnings, driven by streaming
Yesterday, we reported on WMG’s growth, and now it’s Sony Music Entertainment’s (SME) turn to report increased revenues in the same quarter. Sony Group Corporation, the parent company of SME, […]
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Warner Music Group reports 27% growth driven by traditional and emerging streaming
About a year ago, when it became clear the pandemic was here for a while, there were some question marks over the impact it would have on streaming. Would people […]
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Nearly half the time spent on Facebook is now video-related
Facebook published its latest financial results yesterday, posting strong numbers across the board. But the most interesting number was more anecdotal…
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UMG’s recorded music revenues have grown 29.7% year-on-year
Universal Music’s parent company Vivendi has published its latest financial results, including figures for UMG’s last full quarter before it goes public.
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Spotify acquisitions: €57m for Locker Room and €45m for Podz
We reported on Spotify’s financial results yesterday, but there is plenty of follow-on info today, including from the company’s filing with the SEC.
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Apple posts record Q3 revenues including services growth
Apple published its latest quarterly financial results yesterday, and the technical term for them is stonktastic, setting a new record for the quarter.
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Spotify Q2 2021 financials reveal 365m listeners and 165m subscribers
Spotify has published its financial results for the second quarter of 2021. The streaming service now has 365 million monthly active users.
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YouTube advertising revenues grew 84% to $7bn in Q2 2021
YouTube is over the challenges that the Covid-19 pandemic caused for online ad businesses – its latest financial results show strong figures for ad revenues
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SiriusXM revenues up 15% but Pandora listeners still falling
US satellite radio firm SiriusXM reported its latest financial results overnight, with its Q2 revenues of $2.16bn having grown by 15% year-on-year.
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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 sees it developing. The figures cover the company’s latest financial year, which ended on 31 March 2021.
The big numbers: Hipgnosis’s net revenues grew by 66.1% to $138.4m that year, with the company recording a profit after tax of $38.9m. As for acquisitions, by the end of March Hipgnosis had spent around £1.94bn ($2.69bn) on 138 catalogues comprising more than 64k songs.
There’s also a breakdown of the company’s revenues by source: 32% from streaming; 29% from performance; 17% from mechanical/master royalties; 15% from sync; and 3% from other digital sources. Hipgnosis said that its streaming income grew by 18.4% in the second half of its financial year (compared to the first half), and noted that its next set of results will include the fruits of deals signed with TikTok and Peloton.