Spotify subscribers, monthly average users, and revenues all headed north during the latest third quarter. Wall Street sent shares south. It was an impressive third-quarter financial review for Spotify on Tuesday, though Wall Street proved difficult to…
Category archives: Financials
LiveOne Expects to Report Record Q2 Revenue and Membership Growth in Fiscal 2023
LiveOne expects to report a record Q2 revenue, adjusted EBITDA, and membership growth in 2023. Music and entertainment platform LiveOne with a “creator-first” focus, announces that it expects to report consolidated revenue of over $23 milli…
Muzak Parent Mood Media Files for Chapter 11 Bankruptcy
Mood Media, the parent company of background music brand Muzak, has filed for Chapter 11 bankruptcy. Mood Media (formerly Fluid Music Canada) noted its intention to move forward with the Chapter 11 filing in recently published release. Along with the b…
TikTok Parent Company ByteDance Predicts $6 Billion Loss After India’s Ban
ByteDance expects to see a $6 billion USD loss after India banned TikTok and three other apps. India banned 59 apps in total with Chinese links, saying the apps are “prejudicial to sovereignty and integrity of India, defense of India, the securit…
Tencent Music Boasts 39.9 Million Paying Subs — Tops Wall Street Estimates
Tencent Music closed 2019 with nearly 40 million paying music subscribers worldwide. Tencent Music Entertainment Group (TME) runs three different music streaming services in China. Those include QQ Music, Kugou, and Kuwo. TME told investors that its su…
Jay-Z’s Tidal Lost $37 Million In 2018 — More Than 100,000 Subscribers Jumped Ship
Jay-Z’s Tidal lost approximately $37 million and 100,000 American subscribers in 2018, according to newly released figures. The music streaming service’s overall revenue grew by more than 25 percent from 2017 to nearly $150 million, according to a fi…
BTS Is Basically a Cash Machine — Big Hit Annual Revenues Hitting $500 Million
BTS label/management group Big Hit Entertainment just doubled its earnings and substantially increased its 2019 profits. Big Hit Entertainment, the company behind BTS, earned nearly $500 million in 2019, according to a recently delivered corporate brie…
Spotify Reaches 124 Million Premium Subscribers — But Quarterly Losses Top $85 Million
Spotify closed 2019 with 124 million premium subscribers—a 29 percent increase from 2018’s year-end figure—but this user influx wasn’t enough to prevent the company from sustaining heavy overall losses. Spotify’s earnings report also indicated that th…
Pandora Is Losing Subscribers – 88,000 Left the Service Last Quarter
SiriusXM revealed some new information about its subscribers’ growth rate for its satellite service and Pandora. SiriusXM added 355,000 satellite radio subscribers during Q4 2019. That breakdown includes 341,000 self-pay customers and 14,000 prom…
YouTube Has More Than 20 Million Paying Subscribers
Google’s Q4 2019 financial results finally shed some light the number of YouTube Music paying subscribers. YouTube Music and YouTube Premium have more than 20 million paying customers between the (confusing) offering. YouTube TV picks up more tha…