Spotify has released its financial report for the second quarter of 2019 (Q2 2019). First, the good news. For the three months ended June 30th, 2019, the music streaming giant reported 232 million monthly active users (MAU), up 29% over the same period…
Category archives: Financials
Sony Music’s Q1 2019 — $1.02 Billion in Recorded Music Revenue and $348.5 Million in Operating Income
Sony Music Entertainment has published the earnings for its Q1 2019 fiscal year. Earlier this year, in its Q4 2018 (our calendar Q1 2019) report ending March 31st, 2019, Sony Music brought in ¥104.4 billion ($946.3 million) in recorded music revenue, d…
SiriusXM’s Q2 2019 — 34.3 Million Subscribers and Pandora Radio’s Gross Profit Climbs 40%
SiriusXM has published its earnings report for the second fiscal quarter of 2019. In the first quarter of 2019 (Q1 2019), the satellite radio giant reached a new milestone, locking down 34.2 million subscribers. The company’s pro forma revenue jumped …
Double-Digital Revenue Growth at Universal Music Buoys Vivendi’s Bottom Line
French conglomerate Vivendi saw its revenues increase by close to 14% during the first half of 2019, to just over $8 billion. This growth was due in large part to the company’s music division—namely Universal Music Group (UMG). UMG’s first-half 2019 e…
Live Nation Shows Off Healthy Q2 2019 Earnings — And Says Smaller Artist Tours Are Booming
Live Nation has posted encouraging Q2 2019 profits — and Wall Street is taking notice. Having secured earnings equal to $.41 per share during the second quarter of 2019, Live Nation was able to top the $.39 per-share earnings that experts predicted. It…
Filter Cancels Their 20th Anniversary Album Because PledgeMusic Froze Their Funds
Filter has canceled their 20th-anniversary reunion album thanks to Pledge Music freezing funds. Original members Richard Patrick and Brian Liesegang were reuniting for the album, reBus. Filter was using Pledge Music to fund the recording of the new alb…
As Bankruptcy Looms, 7Digital Announces Key Changes to Its Board of Directors
Following an urgent bulletin that 7digital needs roughly $5.7 million to avoid bankruptcy, the company is now announcing changes to its board. Insert ‘rearranging deck chairs on the Titanic’ quip here. Amidst some heavyweight financial pressures, 7digi…
Streaming Now Accounts for 66% of Germany’s Total Recorded Music Revenue
Last year, despite the growth of music streaming in the country, German’s music industry remained stagnant – at best. German music association Bundesverband Musikindustrie (BVMI) revealed that the country had recorded 79.5 billion streams. Music strea…
SOCAN Members Only Received $41 From Digital Sources Last Year
The Society of Composers, Authors, and Music Publishers of Canada, or SOCAN, has published its financials for 2018. Breaking down total collections, the Canadian performance rights organization collected $375 million ($284 million) last year, up 11% ov…
Merlin Pays Out $845 Million to Labels and Distributor Members in 2018, Reaching Over $2 Billion in Payouts
Indie label collective Merlin Network has posted its financials for the 12 months ending March 31st, 2019. Publishing its 2019 Membership Report & Survey, the company paid out $845 million to its label and distributor members, up 63% year-over-year…