Sony Music Entertainment sees a Q3 increase in revenue, across both recorded music and publishing. Lil Nas X — inked to Columbia/Sony back in March of 2019 — helped to drive the results. After an intense bidding war last year, Sony Music label Columbi…
Category archives: Financials
Warner Music Group Quarterly Earnings Jump 42% (Thank You, Streaming)
Warner Music Group (WMG) just reported a very solid first-quarter growth. Warner Music Group (WMG) recorded substantial profits in the first quarter of its fiscal year, which began in October of 2019 and ended on December 31st. In an earnings report is…
AirPods, iPhone 11 Sales Propel Apple’s Quarterly Earnings to All-Time High of $91.8 Billion
During the first quarter of Apple’s fiscal year, which ended on December 28th, 2019, revenues jumped nine percent from the same period in 2018, to an all-time high of $91.8 billion. Additionally, Apple’s diluted earnings per share (EPS) came in at $4….
Evercore Analyst Downgrades Spotify, Calls Profit Margin Growth ‘A Pipe Dream’
On the heels of Bernstein’s Todd Juenger giving Spotify an underperform rating, an analyst from Evercore has downgraded the stock to underperform as well. Benjamin Black gave the stock the rating after previously assigning it a neutral rating, or…
TikTok Revenue Surges 310% to $50MM in Q4, According to Latest Estimates
According to data compiled by Apptopia, in-app revenue at TikTok during the fourth quarter of 2019 surged 310% to more than $50 million. The results came in spite of increased scrutiny of the company by the U.S. Congress. Adam Blacker, who is the vice …
Tencent Music Announces $400 Million Stock Repurchase Plan
The board of directors of Tencent Music Entertainment announced that the company plans to repurchase $400 million of its shares. The repurchase relates to U.S.-traded Class A ordinary shares, in the form of American depository shares, and it will take …
Warner Music Group Corp. Reports Results for Fourth Quarter and Year Ending September 30
Warner Music Group has reported its financial results for both its fiscal fourth-quarter and the year ending September 30, 2019, and the news is good. In terms of the fourth quarter, revenue rose 8.2% at the company. They further indicated that recorde…
Tencent Music Earnings Surge 31% In the Latest Quarter
Tencent Music Entertainment Group has released its third-quarter financials for 2019, with revenue surging a staggering 31% and beating the expectations of Wall Street analysts. In spite of the news, shares of the company are down by more than 7% at th…
CISAC Collections Reach a Record €9.7 Billion
Digital revenue in 2018 helped the International Confederation of Societies of Authors and Composers (CISAC) achieve a record €9.65 billion in global royalty collections. On November 7, the organization, which represents 232 music societies in 120 nati…
Napster Quarterly Revenues Drop as Shift Towards B2B Continues
On November 6, RealNetworks, which is the parent of Napster, released its 3rd quarter financials for 2019, with revenue at the music streaming service dropping precipitously as the company shifts toward B2B. Napster generated $27.3 million in revenue f…