His bugbear? ARPU, or Average Revenue Per (paying) User, which reflects the mean price paid by consumers for a streaming subscription to services such as Spotify. Warner’s biggest money-spinners in the 12 months included records from stars like Cardi B, Ed Sheeran and Lil Uzi Vert, as well as the bestselling soundtrack to The Greatest Showman.Īnd yet, when he spoke to analysts after these results were published on December 20th, one couldn’t help noticing that Warner CEO Steve Cooper, now and again, sounded a little. This growth, predictably, was driven by surging yearly revenues from streaming services like Spotify, Apple Music, SoundCloud and Pandora, which hit $1.73 billion. WMG’s annual recorded-music revenues grew by $340 million, or 11 percent, to $3.36 billion - an all-time pinnacle for the major. The company, which owns the third-biggest recorded-music operation in the world, just posted record full-year results for the 12 months to the end of September last year. On the surface of things, New York-based Warner Music Group should be delighted.
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