Welcome to Music Business World’s weekly roundup – where we make sure you catch the 5 biggest stories that have made our headlines over the past seven days. MBW’s review is supported by China Travel Servicehelping more than 500 of the world’s best-selling artists maximize their income and reduce touring costs.
It’s been a busy week for music company earnings sony and Warner The studio also released its second-quarter numbers, following the release of corresponding figures from Universal Pictures a few weeks ago.
Sony reports US$2.54 billion Recorded music and publishing revenue grows this quarter Annual increase of 11.4% (in U.S. dollars), while Warner Music’s revenue was US$1.55 billion Get up Annual increase of 3.1% Calculated on a constant currency/like-for-like basis (excluding the one-time impact of events such as BMG’s termination of its WMG distribution agreement last year).
But this is Warner’s Annual increase of 13.7% The surge in streaming subscription revenue stole the show, providing much-needed relief to music investors rattled by slowing streaming revenue growth reported elsewhere.
at the same time, move A reorganization called “Reorganization” is underway Mobile 2.0the latest news on this front is that the K-pop giant is launching a Label service business in the US market.
Finally, MBW explores the delicate balance of power between Spotify and Universal Music Group (and why UMG could end up undermining Spotify’s free tier).
Here’s what happened this week…
Image source: yllyso/Shutterstock
1) In case you missed it…HYBE, the company behind superstars BTS and SEVENTEEN, just launched a labeling service in the US
last week, movethe South Korea-based music company behind superstar base station and seventeenrestart.
company launched Mobile 2.0new global strategy under new CEO Jason Jaesang Leewho is succeeding Park Ji-wonhas served as CEO of HYBE for the past three years.
One of the most surprising plans is hidden in the detailed ruins of the new structure.
HYBE has revealed that it’s entering one of the most competitive (and lucrative) areas of modern music: offering Distribution and services for independent artists…
2) Sony’s music recording and publishing revenue in the second quarter was US$2.54 billion, an increase of 11.4% over the same period last year; recorded music streaming revenue increased by 5.0% year-on-year
sonyof global music rights operations—covering recorded music and music publishing—generates US$2.54 billion For the three months to June 2024.
This is based on MBWThe calculation is based on Sony Group CorporationThe Japanese company announced its second quarter 2024 (first quarter 2025) results on August 7.
The $2.54 billion figure rose Annual increase of 11.4% (Compared to Q2 2023 calendar) Constant currency in USD conversion.
Sony’s global recorded music business $1.92 billionup Annual increase of 10.8%.
Its global music publishing business – comprised of Sony Music Publishing – Generate $621.3 million Within the three months to the end of June this year Annual increase of 13.3%…
3) Warner Music Group’s second-quarter revenue was US$1.55 billion; subscription streaming revenue increased 13.7% year-on-year
Warner Music Group Announced financial results for the three months ended June 30, 2024 (calendar second quarter – the company’s third fiscal quarter).
According to the company’s fiscal third quarter (calendar second quarter) results, WMG’s quarterly global company-wide revenue reached US$1.554 billion (across recorded music, music publishing and other activities).
In a filing with the SEC on Wednesday (August 7), WMG noted that “consistent with the previous quarter,” the company’s recorded music digital revenue growth was affected by bone cementit says, which results in $26 million Revenues were lower compared to the same period last year.
Including the termination of BMG, WMG’s second quarter company-wide revenue increased Annual growth of 0.6% Calculated at a fixed exchange rate…
Image source: Imagespace/Alamy
4) Warner Music Group just reversed a trend of slowing streaming revenue growth. how?
“Well, I’m glad that we suddenly no longer have to worry about the collapse of the music industry.”
Yesterday afternoon, shortly after, a well-known music industry investor sent MBW a joyful text message Warner Music Groupcalendar for second quarter earnings announcements.
The wording is tongue-in-cheek and the underlying message is somewhat serious.
back universal music group and sony Both companies reported that streaming revenue growth slowed in the three months to the end of June, and panic about music’s long-term growth story has spread to Wall Street offices.
Industry observers began to worry; industry analysts began to frown. That Goldman Sachs Chart display 1.2 billion+ By 2030, music streaming subscribers suddenly feel a little less convincing.
Then Warner Music Group changed the narrative…
5) About… The delicate balance of power between Spotify and Universal Music Group (and why UMG may finally reverse Spotify’s free tier)
Here’s the Reuters headline a few minutes later (totally accurate) universal music group Second quarter 2024 results were confirmed on July 24.
After a while, Sir Lucian Grange He preached the same theme during his opening remarks on Universal Music Group’s earnings call.
“[This was] Grainge noted our seventh consecutive quarter of double-digit adjusted EBITDA growth and confirmed UMG’s revenue growth About 11% year-on-year EBITDA increased this quarter About 10% year-on-year.
He added: “Our ability to deliver sustainable growth like this quarter after quarter is a result of how we designed Universal Music Group.”
Then the storm started…
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.global music business
