welcome to world music businessweekly roundup – guaranteed to catch up on the 5 biggest stories making headlines over the past 7 days. MBW Roundup is supported by: Centriphelps over 500 of the world's best-selling artists maximize income and reduce touring costs.
ongoing battle between concorde and black stone for Hypnosis Song FoundationConcord is $1.4 billion Last week, Hipgnosis was offered in an all-cash offer.
Within days, investment giant Blackstone 1.5 billion dollars Concord came up with its own proposal, and Concord hit back with updated content. $1.51 billion Offer. On Thursday (April 25), Blackstone responded with comments to the market and HSF shareholders.
Another fast-moving topic this week concerns new U.S. anti-sale laws. tick tockcould have a huge impact on the music business.
president joe biden The bill was signed the day after the Senate approved it. Since then, the press has been trying to predict the parent company's moves. part time dance One report said TikTok's U.S. business could be sold without the algorithm, while another said the company might rather sell it. Closing U.S. operations than to sell.
This week we also received quite a bit of data on the current state of the music industry. RIAA's latin music reportLatin recorded music revenue 16% compared to previous year Jump to America $1.4 billion.
spotifyMeanwhile, in the first quarter, we reported the highest quarterly operating profit ever, $168 millionas the number of paid subscribers increased by 3 million quarter-over-quarter. 239 million. As a result, Spotify's stock price soared (albeit briefly), prompting the CEO to say: Daniel Ek This is a great opportunity to sell 400,000 shares of stock.
Finally headquartered in France believe reported 15.9% compared to previous year Quarterly earnings soared; $250 million. The company noted that part of its growth was due to: Music streaming service price hike.
On Wednesday (April 24), we learned about the latest chapter in the takeover drama surrounding the UK-listed company. Hypnosis Song Foundation.
concorde launched 1,511 million USD Bid on company assets $1.25 per share.That bid was slightly higher than recent bids. 1.5 billion dollars acquisition proposal from black stoneevaluated HSF as follows. $1.24 per share.
And Concord will be taking the lead in the battle to acquire Hypnosis Songs Fund…for now.
On Thursday (April 25), Blackstone released the following statement: A brief but captivating comment To the market, and specifically to HSF shareholders, following Concord's new offer.
Part of it reads: “Blackstone strongly advises Hipgnosis shareholders: don't do anything And we are considering the options. Further announcements will be made soon…”
On Wednesday (April 24), the President joe biden A bill was signed into law requiring tick tockParent company – a technology giant headquartered in China part time dance – Sell the app’s business in the US or face a ban in key markets 170 million user.
Citing sources: information On Thursday (April 25th), TikTok's parent company announced thatWe are considering scenarios internally.” to sell the app’s U.S. operations without it Its powerful recommendation algorithm powers the „For You“ feed.
ByteDance Rejected informationReporting through statements published on media platforms headband.
Later that day on Thursday, Reuters reported that TikTok's parent company is „hoping.“ Shut down the app in the US If we are unable to successfully challenge this bill in court…
spotify The company's global premium subscriber base is 239 million paid users Q1 – Achieved our largest quarterly profit in our history for the three months to the end of March.
Spotify's premium/subscription revenue increased in the first quarter 21% compared to previous year in fixed currency 3,247 million euros ($3.525 billionSPOT said it was driven by subscriber growth and higher premium ARPU. €4.55 ($4.94) – Up 7% compared to previous year In a fixed currency.
In terms of profitability, Spotify is 168 million euros ($182.41 million), the company noted in an investor presentation that this was a „new quarterly high“ and reflected „lower payroll and related costs and lower marketing spending.“
Spotify's stock price soared following the earnings report, giving Ek the perfect opportunity to sell 400,000 units of Spotify stock, which he did this week. for $118.8 million…
latin music continues to be one of the record industry's greatest success stories.
Total revenue generated by Latin music in the U.S. will exceed $1 billion in 2023 for the second consecutive year; $1.4 billion.
according to it, Recording Industry Association of America (RIAA) announced the end of the year. latin music report It will be held on Tuesday (April 23rd) at the world's largest recorded music market.
The report shows that on a retail basis (money spent on physical and digital music as well as streaming subscriptions), Latin music revenues increased. 16% compared to previous year In 2023, the US will outperform the overall market…
Music company headquartered in Paris believe announced its financial results for the first quarter of 2024 (three months to the end of March).
The company had revenue of 230.3 million euros For the first quarter, it translates to: 250 million USD Based on quarterly average exchange rates published by the European Central Bank.
According to a Believe filing issued Wednesday (April 24), the company's quarterly revenue was 31.7 million eurosfrom €198.6 million in the first quarter of 2023. 15.9% compared to previous year.
Believe said Wednesday that the first quarter „continued to see healthy growth in paid streaming,“ „boosted by multiple DSP price increases.“