Live Nation revenues down 20% due to concerts shutdown
In the streaming and recorded music world, the impact of the Covid-19 pandemic on companies’ first-quarter financial results has been noticeable, but not enormous. Many of them expect the bigger hit, if it’s coming, to...
May 8, 2020
Latin music revenues in US growing faster than overall market
The RIAA has published its annual year-end report on Latin (recorded) music revenues in the US, revealing that they grew by 28% to $554m in 2019. That’s more than double the rate of growth of the overall US market,...
May 4, 2020
Twitter Q1 revenues rise 3% as daily users grow by 24%
Twitter is the latest tech company to publish its results for Q1 2020, revealing that its quarterly revenues grew by 3% year-on-year to $808m, with a similar “strong start to the quarter that was impacted by widespread...
May 1, 2020
Facebook financials reveal ‘significant’ Covid-19 impact
You’d be forgiven for the tart reply ‘Well of course they do’ – even the world’s largest social network can’t be immune from the Covid-19 pandemic’s economic impact. “We experienced...
April 30, 2020
Alphabet’s Q1 included ‘significant slowdown in ad revenues’
It should come as no surprise that Covid-19 is figuring prominently in the Q1 financial results of every public company. Alphabet announced its figures yesterday, and warned that although its revenues were up 13% to $41.2bn...
April 29, 2020
Pandora ad revenues up but monthly listeners are still falling
US satellite radio firm SiriusXM published its Q1 financial results yesterday, including updated figures for its Pandora subsidiary. The good news for Pandora: its ad revenues were up 4% year-on-year to $241m. The not-so-good...
April 29, 2020
Pollstar says 2020 global live revenues would have been $12.2bn
In the 1980s and 1990s, Bullseye was a popular darts-based British TV game show, complete with a ‘look at what you could have won’ element where losing contestants were shown the grand prize they’d just failed to win....
April 6, 2020
Kobalt revenues grew in its last fiscal year – but so did losses
Kobalt Music Group has published its financials for the fiscal year that ended on 30 June 2019. The company’s revenues grew by 35.1% year-on-year to $543.4m, but its total comprehensive losses for the year, net of tax,...
April 1, 2020
BMG reports 10% rise in revenues for 2019
Bertelsmann, parent company of BMG, has issued the financial results for 2019 for its music arm, with revenues growing 10.1% to €600m (up from €545m in 2018). Recorded music revenues were up 13.6% while publishing grew...
March 25, 2020
Italy’s recorded music revenues grew by 8.2% in 2019
Italy is having a hellish time with the coronavirus pandemic at the moment, so understandably the announcement of positive music industry growth figures for 2019 had a big shadow looming over them. Industry body FIMI reported...
March 25, 2020
Twitter users up but revenues hit due to coronavirus
Earlier this year, Twitter provided analysts with its financial guidance for the first quarter of 2020, predicting revenue of between $825m and $885m, and operating income between $0m and $30m. Yesterday, though, Twitter withdrew...
March 24, 2020
RealNetworks filing reveals Napster revenues of $106.3m in 2019
The latest financial results from technology firm RealNetworks include figures for its Napster subsidiary: $106.3m of revenues for 2019. Napster’s cost of revenues for the year were $85.9m, with operating expenses of...
March 2, 2020