'The speed and quantum of the slowdown in subscription revenues caught the company and analysts by surprise,' JPMorgan analysts said in a note. The slowdown...
- Universal Music Group shed around $15 billion off its value on Thursday after the world's biggest music label reported lower-than-expected streaming and subscription revenue for the second quarter.
"The speed and quantum of the slowdown in subscription revenues caught the company and analysts by surprise," JPMorgan analysts said in a note.The slowdown was largely due to the timing of price increases, Chief Digital Officer Michael Nash said during a call with analysts, referring to hikes by Apple and Amazon that were fully annualised in the second quarter.
The company, which represents Taylor Swift, BTS and Drake, blamed slowing growth at key advertising-based platform partners and shortfalls on certain platforms related to the timing of deal renewals. President Biden addressed the nation in primetime on Wednesday, three days after dropping his reelection bid and endorsing Vice President Kamala Harris as his replacement to take on former President Donald Trump.
Canaccord Genuity Group Inc. is scheduled to release its first quarter fiscal 2025 financial results and supplementary financial information after Canadian markets close Thursday, August 8, 2024. Interested investors, the media and other stakeholders can access the earnings release and supplementary financial information at www.cgf.com/investor-relations/investor-resources/financial-reports/
Subscription Revenue Michael Nash Subscription Revenues
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bleeker set to rock the Go North Festival on St. Joseph IslandOrillia-based Bleeker, a Juno and Canadian Radio Music Award-nominated band that writes music built for stadiums, is heading the Go North Music Festival happening from July 25-27
Read more »
'We got to tell our story': Sons of Membertou perform at Smithsonian Folklife Festival in Washington, D.C., receive record dealMEMBERTOU — The Sons of Membertou music group is getting a revamp with the help of the Smithsonian Institution’s Folkways Recording. The group performed ...
Read more »
Japan’s Universal Drops Casino Deal With Philippine Tycoon Dennis UyA unit of Japan’s Universal Entertainment Corp. will no longer invest in a Philippine casino project, in a fresh setback for tycoon Dennis Uy’s bid to find a partner for his unfinished integrated resort.
Read more »
L Catterton Group Raises $756 Million in Birkenstock Share SalePrivate equity firm L Catterton and a group of employees of Birkenstock Holding Plc raised $756 million on Wednesday from the sale of a block of shares of the US-traded footwear maker.
Read more »
Group which operates Revue Cinema obtains court injunction to stay openThe non-profit group which runs Toronto's oldest operating movie theatre says it will remain open after receiving a court injunction halting an eviction next week.
Read more »
Group which operates Revue Cinema wins court injunction to stay openThe non-profit group which runs Toronto's oldest operating movie theatre says it will remain open after receiving a court injunction halting an eviction next week.
Read more »