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Financials

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Financials
Tencent Music

Tencent Music Boasts 39.9 Million Paying Subs — Tops Wall Street Estimates

Ashley King
March 17, 2020
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, Ku... Read More...
TIDAL Rolls Out MQA Option for Hi-Fi Subscribers

Jay-Z’s Tidal Lost $37 Million In 2018 — More Than 100,000 Subscribers Jumped Ship

Marsha Silva
February 10, 2020
7
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 2... Read More...

BTS Is Basically a Cash Machine — Big Hit Annual Revenues Hitting $500 Million

Marsha Silva
February 5, 2020
4
BTS frontman RM (photo: Yun_Q) 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 n... Read More...

Spotify Reaches 124 Million Premium Subscribers — But Quarterly Losses Top $85 Million

Marsha Silva
February 5, 2020
Spotify Offices in Manhattan 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 sustainin... Read More...
Pandora subscribers

Pandora Is Losing Subscribers — 88,000 Left the Service Last Quarter

Ashley King
February 4, 2020
3
Photo Credit: Pandora SiriusXM revealed some new information about its subscribers' growth rate for its satellite service and Pandora. First, the good news. SiriusXM added 355,000 satellite radio subscrib... Read More...
YouTube paying subscribers

YouTube Has More Than 20 Million Paying Subscribers — Music Subscriber Numbers Remain Elusive

Ashley King
February 4, 2020
Photo Credit: Unsplash Google's Q4 2019 financial results finally shed some light the number of YouTube Music paying subscribers.  But exact details remain elusive. YouTube Music and YouTube Premium have mor... Read More...
Lil Nas X

Lil Nas X Drives a Financial Boom at Sony Music — Quarterly Revenues Approach $2 Billion

Marsha Silva
February 4, 2020
1
Courtesy Photo: Apple Sony Music Entertainment just posted a strong increase in Q3 revenue, across both recorded music and publishing.  Lil Nas X — inked to Columbia/Sony back in March of 2019 — helped to dri... Read More...
Warner Music

Warner Music Group Quarterly Earnings Jump 42% (Thank You, Streaming)

Marsha Silva
January 31, 2020
3
Warner Music Group HQ, Downtown LA 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, whi... Read More...

AirPods, iPhone 11 Sales Propel Apple’s Quarterly Earnings to All-Time High of $91.8 Billion

Paul Resnikoff
January 28, 2020
Apple's high-selling AirPods (photo: Antonio Scalogna) 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... Read More...
Spotify Faces Backlash Over Axing Beloved Features on Mobile

Evercore Analyst Downgrades Spotify, Calls Profit Margin Growth ‘A Pipe Dream’

Colin Cohen
January 14, 2020
2
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 previ... Read More...
To Secure Royalties at the Expense of Artists, ByteDance and TikTok Hire Former Music Industry Advocate

TikTok Revenue Surges 310% to $50MM in Q4, According to Latest Estimates

Colin Cohen
January 6, 2020
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 memb... Read More...
Tencent Music Halves IPO to $2 Billion

Tencent Music Announces $400 Million Stock Repurchase Plan

Colin Cohen
December 17, 2019
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 ... Read More...
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