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Digital Economy

Spotify edges on profitability with positive operating income of €54m in Q3 2019

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By Emmanuel Legrand

Spotify is showing increasing signs that it is close to breaking even. The music streaming service has posted for the third quarter of 2019 a positive operating income of EUR54 million, against losses of EUR3m the previous quarter.
The company pointed out that in the third quarter, "business met or exceeded our expectations" with "accelerating" monthly active user (MAU) growth, and "better than expected" subscriber growth, gross margins, and operating profit.
Total reve...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Music deals — Week 14, 2024

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Here is a list of some of the main music deals announced in the past week:

Rock band KISS have signed an agreement with Pophouse which will give the Swedish entertainment and music investment firm ownership of KISS’ artist share of the master recordings and publishing rights. Financial terms of the transaction were not being disclosed but AP estimated that the deal was “over $300 million.” The transaction is subject to certain conditions and regulatory approvals. “Working closely with...

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Creative Industries

Quotes of the week — Week 14, 2024

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"Music makers already know what music lovers are just now learning: TikTok is the worst, most exploitative streaming platform for music, anywhere (and that’s saying something). The vast majority of music on TikTok generates virtually no revenue for the musicians who made it, and even more music on the platform is completely unlicensed (stolen), copied (stolen via AI), or pirated (stolen). Simply put, TikTok is trying to build a music-based business without paying music makers fair value for the...

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Creative Industries

Key figures — Week 14, 2024

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43.2 billion

That's the total number of times the songs in Spotify's list of “the 100 greatest R&B songs of the streaming era“ have been streamed on the platform since 2015, according to MusicAlly.

$40 billion

That's the EBITDA posted by TikTok parent ByteDance in 2023, out of a turnover of over $120bn, according to a Bloomberg report.

$2.9 billion

That's how much France's pay-TV company Canal+, part of Vivendi, is offering to acquire African broadcaster MultiChoice...

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