Sony Music boosts its quarterly revenue by 54%
Sony Music has reported an astonishing $1.82 billion increase in revenue for their first quarter of 2021, which represents a brutal 54% increase in comparison to last years' figures. This amount of money coming from recorded music gives an image of how tough 2020 was for music labels and how they are now starting to recover after a tragic year. But
Live Nation suffers 95% revenue loss in third quarter of 2020
As expected, the COVID-19 pandemic took its toll on the entertainment industry with cancelled or postponed shows, widespread job reductions, severe revenue losses, leaving music fans and employees in emotional distress. One of the most seriously affected is global entertainment giant, Live Nation, that recently unveiled the company's 95% revenue loss, almost $320 million, only in the third quarter of 2020. The company
YouTube claims to have paid the music industry over $3 billion in 2019
YouTube CEO, Susan Wojcicki, took to a blog post last Friday that claims YouTube has paid the music industry over $3 billion in 2019. YouTube, which has just celebrated its 15 year birthday, has revolutionized the way the world uses the internet. With over two billion monthly users and over 500 hours of videos uploaded every minute, YouTube has become a
Soundcloud’s revenue skyrockets over $100 Million. Are they safe now?
After the many troubles faced in 2017, Soundcloud has finally unveiled some good news, announcing that the Berlin-based company's revenue has soared past the $100 million mark. Kerry Trainor, the company's CEO, announced this in an interview with the Financial Times, but is this enough to officially count the company in safe waters and truly believe they left behind their