Apple has announced the financial results for its second fiscal quarter of 2019 (Q2 2019). The Cupertino giant posted quarterly revenue of $58 billion, down 5% over the same period last year. In addition, quarterly earnings per diluted share totaled $…
Category archives: Financials
Tunecore Artists Earned $83 Million in Q1 — With Heavy Metal and J-Pop Leading the Way
Tunecore announced today that its artists earned $83 million in Q1 2019, a 21% increase over the same period last year. Tunecore says its total artist distribution revenue is now over $1.5 billion. Distribution income for Tunecore artists hit $308 mill…
PRS for Music Posts $946 Million in Annual Collection Revenue — And Puts Fortnite on Notice
With the Copyright Directive passed, will the music industry push to collect revenue from popular games like Fortnite? Earlier today, British collecting society PRS for Music posted its total collection revenue for 2018. Representing over 135,000 songw…
Spotify’s Q1 2019 — 100 Million Subscribers & $159 Million in Net Loss
Spotify has reached 100 million subscribers. But, its losses continuing spiraling out of control. Earlier this morning, Swedish streaming music giant Spotify published its financial report for the first fiscal quarter of 2019 (Q1 2019). First, the goo…
Sony Music’s 2018 Sales Fall Flat as Revenue Drops Nearly 9% Over Last Year
Sony Music has published its full-year earnings report for its 2018 fiscal year. For the fiscal year ending March 31st, 2019, the company brought in ¥427 billion ($3.8 billion) in recorded music revenue. This figure represents an 8.6% drop year-over-y…
SiriusXM Reaches 34.2 Million Subscribers, But Pandora Radio MAUs Drop to 66 Million
Good news and bad news for SiriusXM investors. Earlier this morning, SiriusXM published its first quarter (Q1) 2019 financial report. First, the good news. The satellite radio company’s pro forma revenue jumped 10% to $1.9 billion, up from $1.7 billion…
Thanks to Streaming, Universal Music Group’s Q1 2019 Revenue Jumps 19.2% to $1.7 Billion
Vivendi has just revealed it may sell up to half of Universal Music Group to one or more partners. Ahead of its upcoming sale of up to 50% Universal Music Group (UMG), parent company Vivendi has posted strong financials for the first quarter of 2019. T…
‘Non-Profit’ SoundExchange Refuses to Disclose Top Executive Salaries, ‘Black Box’ Holding Balances from 2018
SoundExchange, a US-based non-profit royalty collection agency subject to public federal disclosure laws, has refused to disclose critical financial information from fiscal year 2018 to Digital Music News. In 2017, SoundExchange CEO Michael Huppe colle…
Kobalt Music Group Posts 23.6% Growth in Gross Profit for 2018
The vibrant indie music scene continues to drive Kobalt’s revenue. For its fiscal year ended June 30th, 2018, Kobalt has posted some pretty impressive numbers. The independent rights management and publishing company’s revenue jumped 25.3% to $402.1 mi…
BMG’s 2018 Revenues Jump 7.5% to $613 Million — And It’s All ‘Organic’
Parent company Bertelsmann has released 2018 financial results for BMG. The financial report notes that 2018 finally marks a shift from growth through acquisitions to ‘organic growth’ for the music subsidiary. BMG pointed to heavy growth in its record…