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Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure that you caught the 5 largest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and scale back their touring prices.
Common Music Group‘s first quarterly earnings name as a public firm went off and not using a hitch this week… nearly.
On the finish of the decision on Wednesday (October 27), one notably offhand analyst tried to personally quiz UMG Chairman and CEO Sir Lucian Grainge over “whether or not he wish to purchase some shares” in UMG.
This rude-ish curveball was expertly batted away by Common’s CFO Boyd Muir.
It was not possible for that minor sneak assault to solid a shadow on the remainder of the hour-long name, although – as a result of the numbers had been each bit pretty much as good as we’ve come to count on.
Throughout all of its divisions (together with recorded music, publishing and extra) UMG posted revenues within the three months to finish of September (Q3) of €2.153 billion, up 17.4% yr on yr.
In the beginning of the decision, Grainge delivered a rousing speech through which he hailed the “starting of a brand new wave of progress and evolution” within the music enterprise, and added that “UMG is the driving power of progress and innovation within the trade”.
This week additionally introduced information of a standout calendar Q3 quarter for Sony Music Group.
In line with MBW’s calculations, throughout recorded music and publishing, Sony generated $1.849 billion globally within the quarter.
That was up 19.5% on the $1.547 billion these two divisions collectively generated within the prior yr quarter.
Elsewhere this week, UnitedMasters raised $50 million in new funding, valuing the impartial artist distribution platform at $550 million, whereas on the most recent episode of MBW’s Speaking Traits podcast, we requested probing questions on BTS’s latest change to UMG, and about Warner Music Group‘s massive latest worth progress.
Right here’s what occurred prior to now few days…
1) IS UNIVERSAL MUSIC GROUP GOING TO POST A $2BN EBITDA PROFIT THIS YEAR?
Common Music Group has introduced its first quarterly financials as a public firm – and every part could be very a lot nonetheless shifting in the precise route.
Throughout all of its divisions (together with recorded music, publishing and extra) the world’s largest music rightsholder posted revenues within the three months to finish of September (Q3) of €2.153 billion.
That was up 17.4% YoY at fixed forex, and up by 6.5% on the €2.022 billion revenues UMG posted within the prior quarter (Q2)….
2) READ SIR LUCIAN GRAINGE’S FIRST STATEMENT TO INVESTORS AS THE CEO OF A PUBLICLY-TRADED UNIVERSAL MUSIC GROUP
Along with submitting its first monetary outcomes this week, Common Music Group carried out its first ever earnings name as a publicly-traded firm, on which Govt Vice President of Digital Technique Michael Nash and EVP, Chief Monetary Officer Boyd Muir had been grilled about UMG’s outcomes.
On the decision, UMG Chairman and CEO Sir Lucian Grainge addressed buyers himself, throughout opening remarks through which he hailed the “starting of a brand new wave of progress and evolution” within the music trade.
Learn Sir Lucian Grainge’s deal with in full, right here…
3) SONY MUSIC’S QUARTERLY STREAMING REVENUES BURST ABOVE $1BN FOR THE FIRST TIME
Sony’s world recorded music enterprise loved a standout quarter in calendar Q3 – with streaming revenues surpassing the magic USD $1 billion mark in the course of the three months to finish of September.
That’s in accordance with new fiscal outcomes for Sony Music Group posted by its guardian, Sony Group Corp, in Japan yesterday (October 28) and analyzed by MBW.
It was the primary time in historical past, in accordance with MBW’s calculations, that Sony’s recorded music revenues from streaming have damaged the quarterly $1 billion milestone…
4) UNITEDMASTERS VALUED AT $550M, AFTER RAISING $50M IN NEW FUNDING ROUND
UnitedMasters has raised $50 million in new funding.
Led by Andreessen Horowitz, the brand new spherical values the impartial artist distribution platform at $550 million, which, The Data experiences, contains that new funding.
This week’s information marks yet one more vital monetary milestone for New York-headquartered UnitedMasters.
The corporate’s newest funding spherical comes simply six months after it secured a $50 million Sequence B funding, led by Apple with further funding from current backers, Google guardian Alphabet, and Andreessen Horowitz…
5) WHY DID BTS LEAVE SONY FOR UNIVERSAL? AND WHAT’S UP WITH WARNER’S $10BN VALUE GROWTH?
This week on our Speaking Traits podcast, host Louise Porter and MBW founder Tim Ingham talk about the shock information that, following a protracted and profitable partnership, Korean superstars BTS (through HYBE) have ended their relationship with Sony Music / The Orchard / Columbia.
As an alternative, BTS will launch music by means of Common Music Group and Interscope sooner or later.
Porter and Ingham talk about why BTS may need made this determination – or had the choice made for them – and what the motivations is perhaps within the new deal for Common and HYBE, every of whom are publicly-traded corporations…
MBW’s Weekly Spherical-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and scale back their touring prices.Music Enterprise Worldwide
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