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MBW’s Stat Of The Week is a series in which we show why a single data point deserves the attention of the global music industry. Stat Of the Week is supported by Cinq Music Group, a technology-driven record label, distribution, and rights management company.
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The mind-boggling amount of music being uploaded to Spotify continues to get even more mind-boggling.
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Senior executives from Spotify, Apple and Amazon were grilled live on camera by British politicians today in the final session of a UK Parliamentary inquiry into the economics of music streaming.
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Spotify’s share price hit an all-time high on Friday (January 8), rising 7% at the bell on the New York Stock Exchange to end the day at $353.11.
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MBW hears what Daniel Ek, CEO and Founder of Spotify had to say during an interview at Slush tech conference.
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Steve Cooper’s had some interesting years running businesses over the course of his career – but we’d wager nothing could ever top 2020.
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Calendar Q1 2020 was a relatively quiet period for blockbuster releases, but that didn’t stop Sony Music posting its fourth billion-dollar quarter on the bounce.
Warner Music Group might not be floating on the stock exchange after all.
The world’s third biggest music rightsholder, which is 100% owned by Len Blavatnik’s Access Industries, may instead be exploring a private sale.
That’s according to a rumor in The Hollywood Reporter, citing a source close to Blavatnik, which suggests that Warner’s billionaire owner may be considering selling the music company to Saudi Arabia’s Public Investment Fund.
If that name rings a bell, it’s probably because the PIF – which invests on behalf of the Saudi government – just bought a 5.7% stake in Live Nation, via the public markets, for a sum worth approximately $500m.
According to THR, Warner Music Group is currently valued at around $12.5bn.
The publication reports that the Saudi fund made an offer to buy a minority stake in WMG for $750m in February, but this was rebuffed as Warner pressed ahead with its plan to IPO.
That plan has, of course, now been delayed due to market volatility caused by the COVID-19 pandemic, which could reportedly put PIF back in the frame.
Warner Music Group posted its calendar Q1 (fiscal Q2) results this morning, with company-wide quarterly revenues of $1.07bn, down slightly on the $1.09bn posted in the prior year quarter.Music Business Worldwide
The global recorded music industry generated $20.2bn in wholesale revenues – that’s the money making its way back to labels and artists – in 2019.
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