Pandora hires Naveen Chopra as new Chief Financial Officer

Naveen Chopra is joining Pandora as the music streaming company’s new Chief Financial Officer following a long term with TiVo. Naveen Chopra takes the place of Mike Herring, Pandora’s president since March 2016 who has…

SoundCloud’s COO and finance director have both left

Following reports that SoundCloud could run out of money in 2017 they have lost two of their highest positions as their COO and finance director have left. Berlin based music streaming company SoundCloud have just…

SoundCloud hire their first ever CFO, Holly Lim

SoundCloud have hired Holly Lim as their first CFO to help “establish a long term view [to] maintain SoundCloud’s financial health and capitalize on new opportunities”. Holly Lim takes on the role as SoundCloud’s first ever chief…

Sony Music sales up 8.7% thanks to a 38.4% increase in streaming revenue

If anyone’s worried the rise of music streaming is causing a drop in revenue they can take comfort in Sony’s new financial report, showing soaring profits. Sony Music have released their quarterly report for April…

Live Nation is Slowly Getting Closer to Profitability – Still Lots of Work To Do

Live Nation (NYSE:LYV) seems to be getting very close to profitability. Live Nation spun out of Clear Channel in 2005, but has been struggling to get its finances in order since then. These numbers are…

Warner Financials Not Looking Great After Loss and Debt Increase Following Parlophone Purchase

Warner Music is struggling. Warner has announced their latest round of figures that see their revenues drop by 0.8 percent in the latest quarter and losses tripling to $79 million. Im not sure Warner owner…

Major Record Labels Continue to Lose Money

Great post over at Digital Music News outlines Warner Music Groups Financials from 2002-2012. Warner Music Group financial profits/losses, fiscal years 2002-2012 (as reported to the SEC). 2012: ―$190 million. 2011: ―$206 million. 2010: ―$143…

Warner Music Group Financial – Digital Up 15% – But Still Huge Losses Overall

Warner Music Group just released their most recent financial figures and they are very interesting reading. Overall revenues up 2% year-on-year to $731m, with digital up 15% to $241m as part of that – so…

Universal Music, Are They Starting To Adopt Digital Business Models Correctly?

In the last year or so it has been tough times for the major record labels. The majors have not really been moving into the digital as fast as they should, whilst at the same…