FORGET PARIS: The just-released Q3 report from Vivendi indicated that even mighty UMG is being impacted by the contracting music marketplace and broader economic factors. Revenues declined 13.4% (12.6% on a constant currency basis) to 889 million euros ($1.1 billion), while EBITDA was down 38.2% to 68 million euros ($86 million); 37.7% at constant currencies. Alarmingly, digital revenues were off as well, dropping 1.7%. Said Vivendi CFO Phillippe Capron, with all due gravity, "This is going to be a tough, challenging industry for a few more years." (5/13a)
MUSIC REVENUE TOPPED $17B IN 2023: RIAA
Streaming subscriptions lead the charge. (3/27a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|