CEO Robert Kyncl discussed higher wholesale prices for DSPs, Elliot Grainge and the 10K team’s “intensity,” and putting money to work in A&R.
Digital and streaming revenues drive overall revenue growth.
This year’s quarterly results have shown improvements in margin and profitability without sacrificing subscriber growth.
Total Sphere revenue was $127.1 million in the quarter ended Sept. 30, down from $151.2 million and $170.4 million in the prior two quarters.
The Chinese music streamer added 2 million net new subscribers, bolstering music streaming revenues by 20%
The global giant’s recorded music division enjoys a 14% spike in revenue, with streaming accounting for 65% of earnings. Publishing also gains.
Releases by Sabrina Carpenter and Chappell Roan, subscription revenue gains and lower costs led to revenue growth and improved margins for the music giant.
Xbox hardware sales dropped 29 percent, but that barely made a dent.
Snoop Dogg’s new publishing partner increased guidance slightly on its full-year revenue and adjusted EBITDA.
Snoop Dogg’s new publishing partner increased guidance slightly on its full-year revenue and adjusted EBITDA.
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