Sonos is feeling chipper about its latest financial results: the speaker-maker’s revenues grew by 25% year-on-year to $260m in the second quarter of 2019, including a 61% bump for sales (in […]
Tag: Financials
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WMG boss: streaming isn’t the only reason for industry growth
Warner Music Group published its latest quarterly financials yesterday, with its revenues up 10.4% year-on-year to $1.06bn, including 12.5% growth in its digital revenue to $648m – 61.2% of the total. Within […]
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Notes of interest from Spotify’s Q2 2019 earnings call
It’s no secret: Spotify’s earnings calls aren’t meant to be interesting. They’re an exercise in repeating key corporate messages; parrying tricky questions; and striving not to say anything that will spook the Wall Street or music-industry horses.
CEO Daniel Ek isn’t the kind of executive who lurches off-piste with controversial, off-the-cuff opinions, and CFO Barry McCarthy is an experienced pro at playing a straight back to analysts’ probing.
In other words, if there are only ‘notes of mild interest’ from a Spotify quarterly earnings call, that counts as a success for the company. With that in mind, here’s a summary of today’s call, which followed the publication of Spotify’s Q2 financials earlier in the day.
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Spotify’s Q2 2019: 108m subscribers, €1.67bn revenues, and a €76m net loss
Spotify has published its financial results for the second quarter of 2019, revealing that the streaming service added 15 million new listeners including eight million paid subscribers during Q2.
Spotify ended June 2019 with 232 million listeners, up 29% year-on-year from the 180 million it had a year ago, and up 7% quarter-on-quarter from the 217 million it had at the end of March this year.
108 million of those active users are now paying, representing year-on-year growth of 31% from its 83 million subs at the end of Q2 2018.
How did this all pay off for Spotify’s financial health? The company reported total revenue of €1.67bn in the second quarter of 2019, up by 31%% from the €1.27bn it posted in Q2 2018. Within that, premium (subscription) revenues grew by 31%% to €1.5bn, while ad-supported revenues grew by 34% to €165m.
Profitability? The company reported a net loss of €76m last quarter, compared to a loss of €394m in Q2 2018.
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Sony Music reports 27% growth in its streaming revenues
We had Universal Music’s latest financials last week, but yesterday it was Sony Music’s turn, fresh from news that its non-Japanese recorded-music and publishing businesses are coming together as Sony […]
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SiriusXM financials include the latest figures for Pandora
US satellite-radio firm SiriusXM published its latest financial results yesterday, including figures for its Pandora music-streaming subsidiary. The overall news was good, but while Pandora showed strong growth in advertising and subscription […]
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Apple hails ‘all-time high’ for its services revenue
Apple also published its latest quarterly financial results last night, with its revenues up 1% year-on-year to $53.81bn, although its net profit fell slightly to just over $10bn (but still: just over […]
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Twitter revenues and daily users are both up year-on-year
It’s clearly the month for better-than-expected financial results for social apps previously thought to be on the slide. First we had Snapchat’s impressive figures for the second quarter of 2019, revealing […]
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Beggars Group financials show profits were up 51.5% in 2018
The financial results of the major labels get plenty of media coverage, but are independent labels enjoying similar growth in the streaming era? The latest figures from one of the […]
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Analysts frustrated at lack of hard numbers on YouTube
How much money does YouTube make? The New York Times offers a carefully-vague suggestion in its latest article about Alphabet’s video service: “YouTube probably generates $16 billion to $25 billion in annual […]
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Facebook reveals latest financials… and an FTC antitrust probe
“We had a strong quarter and our business and community continue to grow,” was the lead statement from Facebook CEO Mark Zuckerberg last night, as his company revealed its latest impressive […]
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Snap financials reveal Snapchat now has 203m daily active users
Snapchat’s parent company Snap, Inc published its latest quarterly financial results last night, and they contained plenty of figures to silence (if temporarily) the company’s doubters. What’s that? Because it […]