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Newswire
> Thursday, February 8, 2024
Thursday, February 8, 2024
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Thursday, February 8, 2024
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Africa-focused music streaming service Mdundo hits 30.8M monthly active users
The company reported a steep drop in ad revenue, but large growth in paid subscribers Source...
Daniel Ek cashes out another $57.5m in Spotify stock, just three months after he banked $64m, and 6 months after he offloaded $100m in shares
Ek sold his shares at a time when Spotify's stock price is at its highest level since late 2021 Source...
CTS Eventim’s revenues blow past expectations, jump 22.5% in 2023 to $2.5B
Ticketing revenues grew more than 32%, while live event revenues jumped by nearly 19% Source...
Pophouse Entertainment, the company behind ABBA Voyage, makes six new senior hires
Company hires COO Linda Höljö, Mamma Mia! The Party Managing Director Sophie Arendt, Head of Capital Raising and IR Natalia Fontecha, Head of Business and Legal Affairs, Sophie McKibbin, Commercial ...
New Mountain Capital-led group closes acquisition of BMI
Deal has received the necessary shareholder and regulatory approvals required for closing Source...
The UK’s live music venue crisis is reaching a boiling point – and it could spread to the US
A new report has found that more than a third of small live music venues in the UK are losing money, and they're shutting down at a rate of two per week Source...
Audacy resolves dispute with BMI for $25m, clearing way for BMI’s sale
A lawsuit against BMI by Audacy could have caused BMI and New Mountain "to abandon the merger altogether" Source...
Spotify paid out $9 billion to music rightsholders in 2023 – equivalent to 63% of its annual revenues
That's around 24 times what TikTok paid music rightsholders last year (which in itself isn't a fair comparison) Source...
As Warner Music Group posts its biggest ever quarter… WMG boss Robert Kyncl says he’s ‘confident’ that Universal and TikTok will resolve their spat
Kyncl is planning 'as much automation as possible,' and more lobbying for higher prices at music streaming services Source...
Warner Music Group enjoyed its best-ever quarter in calendar Q4, with recorded music streaming revenues up 14% YoY
WMG’s net income stood at $193 million versus $124 million in the prior-year quarter Source...
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> Thursday, February 8, 2024
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