DEAG posts loss for 2015

Deutsche Entertainment AG (DEAG)’s financial results for 2015 were heavily impacted by the one-off expenses incurred by the launch of three new music festivals, according to its just-published 2015 annual report. The Berlin-based concert promoter reported an increase of revenue of 16 per cent, up from €172.6 million to €200.4 million. However, earnings before interest and taxes (EBIT) decreased from €9.1m to a loss of €17.8m. The launch of the three festivals – Rock im Revier in the Ruhr district, Rockavaria in Munich and Rock in Vienna, headlined by Metallica, Muse and Kiss – amounted to around €23m in non-recurring expenditure.

Live Nation posts financial results for 2015

Live Nation Entertainment delivered its fifth consecutive year of record revenue, profitability and free cash flow in 2015, but these overwhelmingly positive earnings figures were released on a “constant currency basis,” an approach which eliminates the volatility of exchange rate fluctuations. On a “generally accepted accounting principles” basis, or GAAP, Live Nation reported revenue of $7.24 billion, “which compares to our $7.08 billion estimate,” says analyst Rich Tullo, director of research at Albert Fried & Company. “Operating income [of] $131 million missed our estimate of $180 million, [which] might be an issue with foreign exchange. The company cites on-site advertising as its prime growth driver for the year, with growth in that division at 17 percent for the year. 

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UMG posts 12% growth in revenues

Universal Music Group has announced positive results for 2013 with  revenues up 12.8% to 4.9 billion euros (£4 billion) year-on-year. The continued decline in physical music sales was offset by a growth in digital revenues, which accounted for over 50% of sales income for the first time. Meanwhile in the digital domain, subscription and streaming revenue also grew by more than 75% in 2013. The company said that its biggest sellers of last year were Eminem, Katy Perry, Imagine Dragons, Lady Gaga, Drake, Robin Thicke and French-language artist Stromae

Warner Music posts a $57 million third quarter loss

Warner Music have posted a $57 million net loss on the quarter up to 30 September. Revenue for the quarter was up 4.5% year-on-year to $764 million, helped by the acquisition of the Parlophone Label Group. Warner Music's CFO Brian Roberts said that the decline in profits (and in revenues if Parlophone is taken out of the mix) was down to a "light release schedule" in the quarter compared to the same period a year earlier, particularly in Japan where the summer quarter in 2012 included three major artist releases. For the financial year, which ended with this quarter, the company posted net losses of $198 million on revenues of $2.87 billion, compared to $112 million on £2.78 billion the previous year. Roberts said that the acquisition of Parlophone had contributed to the losses, though the merger would result in $70 million in cost savings over the next two years.

Live Nation and Warners upbeat on financials

Warner Music Group and Live Nation have both issued upbeat statements after bth forms latest financial figures were released. Live Nation said it had seen revenues 8.3% year-on-year in the last quarter to $1.7 billion in the quarter to the end of June, with net income of $59 million above analyst expectations with CEO Michael Rapino calling a 'record summer'.

Warner Music Group, meanwhile, had seen revenues increase by 1.8% in the same period, but losses had almost doubled to $63 million. Recorded music revenues increased by 3.3%, while digital revenues on recordings were up by 9.8% on the same quarter last year, representing 44.8% of total recorded music income. Comparatively, revenues on physical releases dropped by 5.8%.

Elsewhere HMV confirmed it was moving back into its original store on London's Oxford Street which it first occupied in 1922 until 2000 when the store moved to larger presmises, which were then given up t to Sports Direct earlier this year. New HMV owner Hilco confirmed the return this week

Spotify revenues - and losses - up

Spotify has doubled its revenues in 2012, but losses also rose as the streaming music platform seeks to expand in an increasingly competitive market. The Financial Times reports that the latest financial filing from the digital firm in Luxembourg shows that revenues in 2012 went up from 190.4 million euros to 434.7 million euros, with the number of 'active users' rising to 20 million worldwide, over a quarter of which are paying premium service users. However, overall losses widened to 58.7 million euros, up from 45.4 million euros the previous year.

PPL income up 11% on 2011

The UK record industry's collecting society PPL has issued its financial results for 2012, confirming that its earnings increased by 11% year-on-year to £170.8 million. 

Public performance income was up 17% to £64.8 million and international income rose 13% to £36.6 million; broadcasting and online income was up 5% to £69.4 million. The report also revealed a small decrease in cost-to-income ratio, from 14.4%, compared to 14.9% in 2011.

Sony reduces losses

The latest quarterly financial report from Japan's Sony Corp show net losses down to 10.8 billion yen (£73 million) for the last quarter of 2012 (Q3), compared to losses of 158 billion yen for the same quarter a year earlier. Sales were also up 6.9% to 1.948 trillion yen.  A slump in the fortunes of the group's traditional cash cows of consumer electronics, and especially in the television set space, has hit the firm hard but restructuring and a sales recovery promoted by a weakening yen appears to have allowed the Group to reduce losses. 

http://www.sony.net/SonyInfo/IR/financial/fr/12q3_sony.pdf

Spotify still at a loss

The Wall Street Journal reports that Spotify's losses rose from E28.5 million  in 2010 to E45.4 million last year. However, the company's revenues also grew rapidly in 2011, up to 156.9 million euros - over E100 million more than the previous year's 52.6 million euros. Despite considerable growth, the streaming service is still relying on venture capital funding, and the latest accounts noted that it "cannot exclude the need or desire to raise more funds in the future".