Home Business News From Reside Nation’s 44m concertgoers in Q3 to Sony’s $2.15bn revenues… it’s MBW’s Weekly Spherical-Up

From Reside Nation’s 44m concertgoers in Q3 to Sony’s $2.15bn revenues… it’s MBW’s Weekly Spherical-Up

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From Reside Nation’s 44m concertgoers in Q3 to Sony’s $2.15bn revenues… it’s MBW’s Weekly Spherical-Up

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Welcome to Music Business Worldwide’s weekly round-up – the place we ensure you caught the 5 greatest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and cut back their touring prices.


Enterprise is booming at Live Nation.

The live shows large generated revenues of $6.15 billion in Q3 throughout all divisions, together with live shows, ticketing, and promoting & sponsorship, up 63% YoY.

Reside Nation delivered these outcomes, in accordance with President and CEO Michael Rapino, writing to buyers this week, “regardless of various financial headwinds together with inflation”.

He added: “Followers around the globe proceed prioritizing their spend on dwell occasions, significantly live shows.”

The corporate says that over 44 million followers attended 11,000 live shows in Q3 – its highest quarterly attendance ever.

Additionally this week, Sony Group Corp revealed its calendar Q3 (fiscal Q2) 2022 outcomes.

Based on MBW’s calculations, Sony’s international music rights operation – throughout recorded music and music publishing – generated USD $2.152 billion within the three months to finish of September 2022.

In the meantime, Paris-headquartered music firm Believe reported that it generated EUR €197.0 million in Q3 – a 36.9% YoY enhance in revenues.

Plus, MBW confirmed that Firebird has acquired a big stake in Transgressive Data, whereas Spotify is reportedly contemplating shopping for its MENA-focused rival Anghami.

Right here’s what occurred this week…


1) OVER 44M PEOPLE ATTENDED LIVE NATION CONCERTS IN Q3 in 2022 – IT’S HIGHEST QUARTERLY ATTENDANCE EVER

Concert events large Reside Nation simply delivered what it says was the “greatest summer season live performance season in historical past”.

Based on new investor filings, the corporate generated Q3 revenues of $6.15 billion within the three months to finish of September, up 63% YoY.

These revenues have been generated throughout all divisions, together with live shows, ticketing and promoting & sponsorship…


2) SONY GENERATED $2.15BN FROM RECORDED MUSIC AND PUBLISHING IN CALENDAR Q3 – UP 16.4% YEAR-ON-YEAR

Sony’s international music rights operation – throughout recorded music and music publishing – generated USD $2.152 billion within the three months to finish of September 2022.

That’s in accordance with MBW’s calculations based mostly on Sony Group Corp’s calendar Q3 (fiscal Q2) 2022 outcomes, as introduced by the Japanese agency earlier right this moment (November 1).

The $2.152 billion determine was up 16.4% year-on-year (vs. calendar Q3 2021) at US dollar-converted fixed forex.

In financial phrases, Sony’s total music rights operation (recorded music plus music publishing) generated roughly $303 million extra in calendar Q3 2022 than within the prior-year quarter…


3) BELIEVE’S REVENUES JUMPED BY 37% YOY IN Q3. IT’S JUST RAISED ITS FY FORECAST FOR THE SECOND TIME THIS YEAR.

Paris-headquartered music firm Imagine generated EUR €197.0 million in Q3 – a 36.9% YoY enhance in revenues.

On an natural foundation (at a like-for-like perimeter and fixed alternate fee), that determine was up 37.6% YoY.

These spectacular share rises have been pretty typical for Imagine this yr, regardless of macro-economic headwinds looming for the broader music and leisure enterprise (particularly round ad-supported streaming providers).

Working example: within the first 9 months of this yr, Imagine’s revenues have been up 35.9% YoY – and 36.3% YoY on an natural foundation – to €549.2 million…


4) FIREBIRD’S NEXT BIG DEAL REVEALED: A SUBSTANTIAL INVESTMENT IN TRANSGRESSIVE RECORDS

In September, we advised you about an acquisitive new US-based enterprise known as Firebird Music Holdings, backed by Raine Group and co-founded by Nat Zilkha and Nathan Hubbard.

US-based Zilkha is a former Companion at KKR in December 2021, whereas Hubbard is a former CEO of Ticketmaster and a former international head of Media & Commerce at Twitter.

We revealed that Firebird’s first acquisition was a significantly-sized minority stake in Purple Mild Administration – one of many world’s most established artist administration corporations. (Purple Mild’s founder Coran Capshaw continues to guide the corporate after 31 years at its helm.)

This week, MBW revealed particulars of Firebird’s newest deal – with a extensively revered impartial file firm headquartered in London…


5) SPOTIFY CONSIDERING BUYING MENA-FOCUSED RIVAL ANGHAMI (REPORT)

Spotify is reportedly contemplating shopping for its MENA-focused rival Anghami.

That’s in accordance with a report revealed by Dubai-based Frankly journal. Arabian Enterprise additionally carried the information.

Anghami listed on the NASDAQ in New York in February through a merger with a publicly-traded particular function acquisition firm.

The music streaming firm entered right into a definitive merger settlement in March 2021, which valued Anghami at $220 million…Music Enterprise Worldwide

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