Accountancy

  1. SiriusXM CEO Karmazin Calls Internet Radio 'Race to the Bottom' on Earnings Call

    November 01, 2012 10:46 AM EDT Outgoing SiriusXM CEO Mel Karmazin slammed the business model behind personalized Internet radio services during an otherwise upbeat third-quarter earnings call Thursday. While advertising-based Internet radio company Pandora has yet to turn a pro ...

  2. Warner Music Group Expects Improved Revenues In Q4

    October 16, 2012 10:02 PM EDT When the Warner Music Group (WMG) reports its financials for the three-month period ended Sept. 30, the company expects revenue to total $721 million to $741 million, an improvement over the $719 million reported in the corresponding period for th ...

  3. Business Matters: Accounting Explains How Spotify's Business Model Can Succeed

    October 05, 2012 6:15 PM EDT A website that posts the financials of privately held companies has revived the debate about the sustainability about Spotify's business model. This is a debate worth having, but a tweak to Spotify's income statement may lead to a more i ...

  4. Omnifone, Powers Music For Sony, BlackBerry, Rara.com, Turns Profit

    September 11, 2012 12:58 PM EDT Profits of any kind are rare in digital music, but there's money to be made powering other company's services. White-label service Omnifone announced Tuesday its first annual operating profit in the company's nine-year history. The ...

  5. Warner Music Group Revenue Slipped 8% in Q1

    May 15, 2012 9:33 AM EDT Warner Music Group revenue slipped 8% in the first three months of 2012 to $628 million from $684 million in 2011. The company did more with less, however, as operating income before depreciation and amortization rose 4% to $85 million and net los ...

  6. Warner Music Group Spent Less, Revenue Remained Flat in Holiday Quarter

    February 09, 2012 12:54 PM EST The holidays were good to Warner Music Group. Key releases by Michael Buble, Nickelback and the Black Keys helped Warner post flat revenue of $779 million in the fourth quarter of 2011 and first of the company's fiscal year. Operating earning ...

  7. Entertainment Merger and Acquisition Activity to Pick Up in 2012 (Report)

    January 24, 2012 7:54 AM EST When you strip out value related to the gigantic marriage of Comcast and NBCUniversal, merger and acquisition activity fell slightly in the entertainment and media industries in the U.S., but it should pick up in 2012. According to a Pricewaterhou ...

  8. Sirius XM Radio Adds 334,000 Subscribers in Third Quarter

    November 01, 2011 9:05 AM EDT Sirius XM Radio added 334,000 subscribers in the third quarter, the satellite radio company reported Thursday. That brings their total to 21.3 million subscribers. It also reported a revenue of $763 million, up 6 percent over third quarter 2010 re ...

  9. France's SACEM Revenues Up 7.5% Last Year

    July 13, 2011 2:36 PM EDT Sacem, the French authors and publishers collection society, has just announced 7.5% growth in 2010 to €819.6 million (about $1.16 billion), the agency's first growth that's exceeded inflation in five years, according to Sacem report. In ...

  10. PriceWaterhouse Predicts Rebound in Entertainment, Media Spending, But Not Music

    June 14, 2011 6:27 AM EDT NEW YORK -- The five-year growth outlook for the entertainment and media industry is better this year than last amid economic improvements, a rebound in advertising and continued technological change, including the wider availability of tablet com ...

  11. Business Matters: Trans World's Music Sales Get a Boost From Healthy Catalog Performance

    May 23, 2011 6:19 PM EDT Trans World's Music Sales Get a Boost From Healthy Catalog Performance -- Trans World's first-quarter results were a good reflection of overall music sales: same-store revenue was down slightly, catalog sales were good -- they were great ...

  12. Business Matters: Despite Media Reports, EMI Did Not Post a $535 Million Profit Last Year

    May 18, 2011 4:46 PM EDT Don't Believe the Hype: EMI Did Not Post a $535 Million Profit Here's another reason not to believe everything you read in the papers: London's Sunday Times reported that EMI's most recent annual profit rose 7% to £330 million ...

  13. Warner Music Group's Latest Quarter Aims to Justify its $3.3 Billion Price Tag

    May 10, 2011 12:39 PM EDT Warner Music Group posted relatively upbeat results for its second fiscal quarter on Tuesday, less than a week after the company agreed to be acquired by Access Industries for $3.3 billion . The results were a glimpse into the reasons why Access w ...

  14. Analysis: Five Reasons To Doubt PWC's New Report

    June 16, 2010 12:00 AM EDT For years the record industry has hoped revenues will bottom out and growth will return to beleaguered record labels. According to a new PricewaterhouseCoopers report, the low mark will come in 2013. However, the report has enough flaws to temper ...

  15. Analysis: A Deeper Look at EMI’s Numbers

    November 23, 2009 12:00 AM EST During the ongoing Terra Firma-Citi saga, EMI has released a few numbers that show improvements in its divisions' operating performance. (See a chart of top-line performance here , via paidContent .) But, beyond the simple accounting measure ...

  16. EMI Music Earnings Triple To $246 Million

    May 07, 2009 12:00 AM EDT EMI Music has increased EBITDA to £163 million ($246 million) for the year ending March 2009, an increase of 219.6% on the 2007-2008 EBITDA of £51 million ($77 million). The earnings increase at the recorded music division occurred during the firs ...

  17. EC Makes Case For Extension On Digital VAT Rules

    November 24, 2006 12:00 AM EST The European Commission has called for a two-year extension for the European Union's value-added-tax rules on digital downloads and broadcasting, when they expire at the end of this year. The rules are contained in the EU's 2002's e ...

  18. Analysts Predict Australian Industry Rebound

    August 03, 2006 12:00 AM EDT Indicate positive growth over the next five years. The revenue decline in Australian recorded music business will be halted this year and the business can then look forward to positive growth over the next five years. That’s the upbeat message fro ...

  19. Judge Orders Death Row Bankruptcy Takeover

    July 10, 2006 12:00 AM EDT Label's accounting practices in disarray. Label's accounting practices in disarray. News ...

  20. EC Extends VAT Period On Electronic Services

    May 17, 2006 12:00 AM EDT Value-Added-Tax rules on radio, television and Internet broadcasting in the European Union will be extended for a further two and a half years until the end of 2008, under European Commission plans un Value-Added-Tax rules on radio, television and ...

  21. Live Nation Q1 Revenues Jump $72 Million

    May 05, 2006 12:00 AM EDT Posts a 16% rise over first quarter 2005. Live Nation, the world’s largest concert promoter and live event producer, rang up $516.6 million in revenues for the first quarter of 2006, an increase of $72.1 million, or 16%, over Q1 2005. Operating in ...

  22. Westwood One CEO Exits

    December 08, 2005 12:00 AM EST In an unexpected resignation, Shane Coppola is stepping down as Westwood One president/CEO, effective Thursday (Dec. 8). Coppola is also resigning as a director on the network's board but will continu In an unexpected resignation, Shane Coppo ...

  23. Sanctuary Eyeing Accounting Changes

    October 31, 2005 12:00 AM EST Sanctuary Group has warned that it is facing an adjustment in its financial results as it initiates a review of its accounting policies. Sanctuary Group has warned that it is facing an adjustment in its financial results as it initiates a review o ...

  24. Sanctuary Eyeing Accounting Changes

    October 31, 2005 12:00 AM EST Sanctuary Group has warned that it is facing an adjustment in its financial results as it initiates a review of its accounting policies. Sanctuary Group has warned that it is facing an adjustment in its financial results as it initiates a review o ...

  25. SEC

    February 01, 2005 12:00 AM EST This Week's Story: SEC may ease Sarbanes-Oxley rules. This Week's Story: SEC Considers Easing Rules On Foreign Companies LONDON (AP) -- The U.S. Securities and Exchange Commission is considering softening new American corporate governanc ...

  26. WMG Posts 10-Month Uptick

    December 13, 2004 12:00 AM EST Warner Music Group today (Dec. 13) reported improved financial performance for the 10 months ended September 2004. The company's net loss was $136 million, compared with a net loss of $239 million in Warner Music Group today (Dec. 13) reporte ...

  27. California Codifies Audit Rights

    August 17, 2004 12:00 AM EDT A new California law codifies some customary audit provisions in recording contracts and requires other provisions that many contracts forbid. NEW YORK -- A new California law codifies some customary audit provisions in recording contracts and req ...

  28. Entertainment, Media Industry On The Rise

    June 29, 2004 12:00 AM EDT After three years of sluggish momentum because of economic and terrorism woes, the global media and entertainment industry is picking up speed, according to a new study. The industry is set to grow at After three years of sluggish momentum because ...

  29. Entertainment, Media Industry On The Rise

    June 29, 2004 12:00 AM EDT After three years of sluggish momentum because of economic and terrorism woes, the global media and entertainment industry is picking up speed, according to a new study. The industry is set to grow at After three years of sluggish momentum because ...

  30. Spain Supports Lower VAT Rate On Music

    April 30, 2004 12:00 AM EDT Spain has pledged to reduce its value added tax (VAT) on record music to 4% from 16%, new culture minister Carmen Calvo said during a media gathering Friday in Madrid. Spain has pledged to reduce its value added tax (VAT) on record music to 4% fro ...