Warner Music Group has reported its financial results for the fiscal first quarter ending December 31. The major label posted a 14% increase in total revenue to nearly $1.05 billion. The label does not detail specifics about streaming revenue, but its chief exec did credit streaming as a positive. Continue Reading
Amazon has shared its financial results for the fourth quarter and the fiscal year 2017. “Our 2017 projections for Alexa were very optimistic, and we far exceeded them. We don’t see positive surprises of this magnitude very often — expect us to double down,” Founder and CEO Jeff Bezos said. Continue Reading
TargetSpot and Entercom have entered a deal that will see TargetSpot act as Entercom’s exclusive third party national ad sales representative for streaming audio. The partnership aims to offer a brand-safe environment and positive experience for listeners. TargetSpot will also provide targeting and analytics capabilities for improved campaign effectiveness. Continue Reading
Nielsen Music shared some statistics about the impact last weekend’s Grammy awards show had on streaming for the artists. Songs performed on stage were streamed more than 9.3 million times across audio streaming services on Monday, 2.1 million streams more than their combined total from Sunday. Continue Reading
Canadian collection agency SOCAN announced a record-high revenue for 2017, but the organization shared the news with a caveat. Total performing rights revenue surpassed $350 million last year, up 6.4% from the year prior. Royalties distributed to SOCAN members reached more than $300 million, a record high for the group. Continue Reading
Podcast company Gimlet Media has added a unit for film and television. Gimlet Pictures will be led by Chris Giliberti. The new division creates a home for the three projects Gimlet has already launched in film and TV, and will oversee any future developments in that same vein. Continue Reading
Dubset Media Holdings is providing Apple Music with three exclusive DJ sets from Steve Aoki, Sigala, and DJ Suss One. Each mix is built from tracks available for use through Dubset’s MixBank catalog. The technology platform helps identify rightsholders for the different tracks used in DJ sets or remixes, and secures quick approval for their use. Continue Reading
In what Pandora calls a “redesign,” the company has announced a company reorganization that includes layoffs, a remapping of its key initiatives, and prioritization of its Atlanta office for growth even as its official HQ remains in Oakland. The staff reduction will affect 5% of Pandora’s workforce. At the same time, the company plans to hire for its new initiatives in the less expensive, talent-rich Atlanta market. Continue Reading
Brief news items and worthy reads from around the web: Mark Mulligan on Yonder. Mark Ramsey on smart speakers. Radioplayer UK expands Alexa skills. Continue Reading
In a rare case of national politics reaching into the online audio industry, PodcastOne has announced distribution of $1,000 bonuses to all full-time employees. The company cites the newly passed tax bill which dramatically reduced the top-line corporate tax rate, and also a successful 2017. There might be another reason. Continue Reading
Spotify has launched a new app designed specifically for listening to curated playlists. Stations, now available on Android mobile devices, appears to offer a lean-back listening experience. The app is free to download and use, no Spotify Premium subscription is required. Continue Reading
Sirius XM has shared its results from the 2017 fourth quarter and full fiscal year. The satellite radio company posted quarterly revenue of $1.4 billion and a net loss of 37 million, or 1 cent per share. For the full year, revenue totaled $5.4 billion. Net income was $648 million, or 14 cents per share. Continue Reading