News Archives

Sonos goes public on Nasdaq

05/08/2018

Sonos listed on the Nasdaq (Thursday 2nd August) raising $208 million making it the 2nd-largest consumer discretionary IPO of 2018, the share prospectus initially valuing the company at $1.8 billion. The shares were offered at $15 and after an initial surge followed by profit taking the share price is fluctuating around $20 per share giving the company a market capitalisation (5th August 2018) of just under $1 bn. Sonos files to go public Despite […]

DEEZER raises €160m from private investors

05/08/2018

DEEZER raises €160m from private investors and enters into an exclusive distribution agreement with Rotana to digitally distribute Rotana’s music and video content in the Middle East and North Africa region. Kingdom Holding Company and Rotana, led by Chairman HRH Prince Al-Waleed bin Talal together with Access Industries, Orange and LBO France have invested a total of €160 million in a private share placement which values DEEZER at €1 billion. The new funding will be […]

Spotify grows users, revenues and losses

02/08/2018

Despite record growth Spotify continues to lose money and is forecast to continue on a losing streak for the next two quarters according to its latest (Q2 2018) financial reports. Spotify grew its user base finishing the quarter with 180 million Monthly Active Users (MAU) and 83 million Premium Subscribers, up 30% and 40% respectively year on year. Revenue for the quarter was €1,273 million, up 26% and 34% year on year for the two […]

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China’s Tencent Music looks to go public in US

01/08/2018

Hong Kong based Tencent Holdings has submitted a proposal to the Hong Kong Stock Exchange to spin-off its Tencent Music Entertainment Group (Tencent Music) on the New York Stock Exchange. Tencent Music is the leading online music entertainment platform in China and Chinese media sources believe that Tencent Music will be valued at between $29 bn and $31 bn after this flotation. The Initial Public Offering (IPO) is expected to raise up to $4 bn […]

French music streaming grew by 39% in first half of 2018

27/07/2018

French music streaming grew by 39% in first half of 2018 according to SNEP (Syndicat National de l’Edition Phonographique) the French music record industry association. 27 bn tracks were streamed during the first six months of 2018, an increase of 39% over the same period in 2017 and this makes up 56% of the total music market. Growth in music streaming has been consistent over the past five years with a six-fold increase from 4.5 bn streams in […]

SoundCloud integrates Pioneer DJ’s DJM-REC recording app

26/07/2018

SoundCloud integrates Pioneer DJ’s DJM-REC recording app allowing artists, DJs and podcasters to record, upload and share content directly to SoundCloud using the DJM-REC iOS app. The DJM-REC app offers SoundCloud creators a simple connection to DJM series mixers equipped with the send/return feature, high-quality audio recording that minimizes clipping and distortion, post-production mixing capabilities, tracklist editing, plus fast, effortless sharing directly to SoundCloud. The DJM-REC app easily connects to DJM-series mixers equipped with the […]

Austrian music streaming grows by 61% in first half of 2018

25/07/2018

Austrian music streaming grew by 61% in the first half of 2018 according to Austrian industry association IFPI Austria. Overall sales increased by 6.3% compared to the first half of 2017 generating revenue of €53.5 million. Revenues of €53.5 million were generated in the first half of 2018 on the Austrian music market with streaming subscriptions, downloads and physical media. This corresponds to an increase in sales of 6.3% compared to the first half of 2017. […]