welcome to global music business‘s weekly roundup – we be sure to catch the 5 largest tales that made our headlines over the previous seven days. MBW’s evaluation is supported by China Travel Serviceserving to greater than 500 of the world’s best-selling artists maximize their revenue and scale back touring prices.
It has been a busy week for music firm earnings sony and Warner The studio additionally launched its second-quarter numbers, following the discharge of corresponding figures from Common Footage a number of weeks in the past.
Sony experiences $2.54 billion Recorded music and publishing income grows this quarter Annual enhance of 11.4% (in U.S. {dollars}), whereas Warner Music’s income was US$1.55 billion Rise up Annual enhance of three.1% On a relentless foreign money/like-for-like foundation (internet of one-time results of occasions resembling: bone cementterminated its WMG distribution settlement final yr).
However that is Warner’s Annual enhance of 13.7% The surge in streaming subscription income stole the present, offering much-needed aid to music buyers rattled by slowing streaming income progress reported elsewhere.
on the identical time, transfer A reorganization known as “Reorganization” is underway Cell 2.0the newest information on this entrance is that the Ok-pop large is launching a Label service enterprise within the US market.
Lastly, MBW explores the fragile stability of energy between the 2 Spotify and universal music group (And why UMG might find yourself destroying Spotify’s free tier).
final week, transferthe South Korea-based music firm behind famous person base station and seventeenrestart.
firm launched Cell 2.0new international technique below new CEO Jason Jaesang Leewho’s succeeding Park Ji-wonhas served as CEO of HYBE for the previous three years.
One of the vital shocking plans is hidden within the detailed ruins of the brand new construction.
HYBE has revealed that it is getting into probably the most aggressive (and profitable) areas of recent music: providing Distribution and providers for unbiased artists…
sonyof worldwide music rights operations—protecting recorded music and music publishing—generates $2.54 billion For the three months to June 2024.
That is based mostly on MBWThe calculation relies on Sony Group CompanyThe Japanese firm introduced its second quarter 2024 (first quarter 2025) outcomes on August 7.
Determine rises to $2.54 billion Annual enhance of 11.4% (In comparison with Q2 2023 calendar) Fixed foreign money in USD conversion.
Sony’s international recorded music enterprise $1.92 billionup Annual enhance of 10.8%.
Its international music publishing enterprise – comprised of Sony Music Publishing – Generate $621.3 million Throughout the three months to the tip of June this yr Annual enhance of 13.3%…
Warner Music Group Introduced monetary outcomes for the three months ended June 30, 2024 (calendar second quarter – the corporate’s third fiscal quarter).
In keeping with the corporate’s fiscal third quarter (calendar second quarter) outcomes, WMG’s quarterly international company-wide income reached US$1.554 billion (throughout recorded music, music publishing and different actions).
In a submitting with the SEC on Wednesday (August 7), WMG famous that “according to the earlier quarter,” the corporate’s recorded music digital income progress was affected by bone cementit says, which ends up in $26 million Revenues had been decrease in comparison with the identical interval final yr.
Together with the termination of BMG, WMG’s second quarter company-wide income elevated Annual progress of 0.6% Calculated at a set alternate fee…
“Nicely, I am glad that we all of a sudden now not have to fret in regards to the collapse of the music business.”
Yesterday afternoon, shortly after, a widely known music business investor despatched MBW a joyful textual content message Warner Music Groupcalendar for second quarter earnings bulletins.
The wording is tongue-in-cheek and the underlying message is considerably critical.
again common music group and sony Each corporations reported that streaming income progress slowed within the three months to the tip of June, and panic about music’s long-term progress story has unfold to Wall Road places of work.
Business observers started to fret; business analysts started to frown. That Goldman Sachs Chart show 1.2 billion+ By 2030, music streaming subscribers all of a sudden really feel rather less convincing.
Right here’s the Reuters headline a couple of minutes later (completely correct) common music group Second quarter 2024 outcomes had been confirmed on July 24.
After some time, Sir Lucian Grange He preached the identical theme throughout his opening remarks on Common Music Group’s earnings name.
“[This was] Grainge famous our seventh consecutive quarter of double-digit adjusted EBITDA progress and confirmed UMG’s income progress About 11% year-on-year EBITDA elevated this quarter About 10% year-on-year.
He added: “Our capacity to ship sustainable progress like this quarter after quarter is a results of how we designed Common Music Group.”
Then the storm began…
MBW’s weekly roundup is powered by Centtrip, a company that helps more than 500 of the world’s best-selling artists maximize their earnings and reduce touring costs.international music enterprise
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