Welcome to Music Enterprise Worldwide’s weekly round-up – the place we be sure you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their earnings and scale back their touring prices.
Enterprise is booming at Stay Nation.
The concert events big generated revenues of $6.15 billion in Q3 throughout all divisions, together with concert events, ticketing, and promoting & sponsorship, up 63% YoY.
Stay Nation delivered these outcomes, based on President and CEO Michael Rapino, writing to traders this week, “regardless of various financial headwinds together with inflation”.
He added: “Followers around the globe proceed prioritizing their spend on dwell occasions, significantly concert events.”
The corporate says that over 44 million followers attended 11,000 concert events in Q3 – its highest quarterly attendance ever.
Additionally this week, Sony Group Corp printed its calendar Q3 (fiscal Q2) 2022 outcomes.
Based on MBW’s calculations, Sony’s international music rights operation – throughout recorded music and music publishing – generated USD $2.152 billion within the three months to finish of September 2022.
In the meantime, Paris-headquartered music firm Consider reported that it generated EUR €197.0 million in Q3 – a 36.9% YoY enhance in revenues.
Right here’s what occurred this week…
Concert events big Stay Nation simply delivered what it says was the “greatest summer time live performance season in historical past”.
Based on new investor filings, the corporate generated Q3 revenues of $6.15 billion within the three months to finish of September, up 63% YoY.
These revenues have been generated throughout all divisions, together with concert events, ticketing and promoting & sponsorship…
Sony’s international music rights operation – throughout recorded music and music publishing – generated USD $2.152 billion within the three months to finish of September 2022.
That’s based on MBW’s calculations primarily based on Sony Group Corp’s calendar Q3 (fiscal Q2) 2022 outcomes, as introduced by the Japanese agency earlier right this moment (November 1).
The $2.152 billion determine was up 16.4% year-on-year (vs. calendar Q3 2021) at US dollar-converted fixed forex.
In financial phrases, Sony’s general music rights operation (recorded music plus music publishing) generated roughly $303 million extra in calendar Q3 2022 than within the prior-year quarter…
Paris-headquartered music firm Consider generated EUR €197.0 million in Q3 – a 36.9% YoY enhance in revenues.
On an natural foundation (at a like-for-like perimeter and fixed trade fee), that determine was up 37.6% YoY.
These spectacular share rises have been pretty typical for Consider this yr, regardless of macro-economic headwinds looming for the broader music and leisure enterprise (particularly round ad-supported streaming providers).
Living proof: within the first 9 months of this yr, Consider’s revenues have been up 35.9% YoY – and 36.3% YoY on an natural foundation – to €549.2 million…
In September, we instructed you about an acquisitive new US-based enterprise referred to as Firebird Music Holdings, backed by Raine Group and co-founded by Nat Zilkha and Nathan Hubbard.
US-based Zilkha is a former Associate at KKR in December 2021, whereas Hubbard is a former CEO of Ticketmaster and a former international head of Media & Commerce at Twitter.
We revealed that Firebird’s first acquisition was a significantly-sized minority stake in Pink Mild Administration – one of many world’s most established artist administration firms. (Pink Mild’s founder Coran Capshaw continues to steer the corporate after 31 years at its helm.)
This week, MBW revealed particulars of Firebird’s newest deal – with a broadly revered impartial report firm headquartered in London…
Spotify is reportedly contemplating shopping for its MENA-focused rival Anghami.
That’s based on a report printed by Dubai-based Frankly journal. Arabian Enterprise additionally carried the information.
Anghami listed on the NASDAQ in New York in February through a merger with a publicly-traded particular function acquisition firm.
The music streaming firm entered right into a definitive merger settlement in March 2021, which valued Anghami at $220 million…Music Enterprise Worldwide