Generally Accepted Accounting Principles

  1. Live Nation Revenue Up 6% in First Quarter

    May 07, 2013 5:02 PM EDT Live Nation posted good first-quarter gains in its concerts division and is betting electronic dance music will help it have a strong 2013. Total first-quarter revenue grew 6.4% to $923.7 million and adjusted operating income rose 9.8% in the qu ...

  2. Clear Channel Parent Posts Improved Third-Quarter Results

    November 02, 2012 11:28 AM EDT CC Media Holdings, the parent company of radio giant Clear Channel Communications, on Friday reported slightly higher first-quarter revenue and a narrowed loss. Billboard's FutureSound Conference, takes place November 15-16 in San Francisco. ...

  3. 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 ...

  4. 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 ...

  5. 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 ...

  6. 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 ...

  7. Universal Music Group Reports Quarterly Revenue Gain

    August 30, 2012 9:54 AM EDT Universal Music Group today reported 88 million euros ($110.4 million) in earnings before interest, taxes, depreciation and amortization on revenues of 961 million euros ($1.2 billion) in its quarterly earnings report. That's up slightly from ...

  8. EMI Reports Fiscal Year Loss Due to Writedown

    August 07, 2012 5:30 PM EDT Music company EMI recorded a pre-tax loss of £349 million ($546 million) for the fiscal year ending March 31, down from the year before due to a writedown, the Guardian reported , citing an internal company memo. The £372 million ($582 million) ch ...

  9. 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 ...

  10. Business Matters: Pandora Needs Investors Ready For the Long Haul

    March 06, 2012 9:29 PM EST Pandora Needs Investors Ready For the Long Haul -- Pandora had a clear message during Tuesday's earnings call for its fiscal fourth quarter and fiscal year ended Jan. 31: We're the future, but the future isn't here just yet. We' ...

  11. 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 ...

  12. Vivendi Third-Quarter Results Exceed Expectations

    November 16, 2011 8:27 PM EST NEW YORK - Vivendi on Wednesday reported better-than-expected third-quarter financials when excluding the effect of tax reforms driven by strength at video game arm Activision Blizzard. The results also included the second consecutive quarter of s ...

  13. 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 ...

  14. 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 ...

  15. 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 ...

  16. Country Radio Seminar 'Show Me The Money' Panel Paints Tough Financial Picture For New Artists

    March 03, 2011 10:09 AM EST If anyone attending the Country Radio Seminar still doubted the troubles facing the recording business, a presentation of case-study profit-and-loss statements by artist and label representatives cemented the position March 2 during "Show Me ...

  17. Universal Music Posts 10% Revenue Gain, Matches 2008 Revenue in Q4

    March 02, 2011 11:54 AM EST A strong end to 2010 gave Universal Music Group a 9.9% increase in revenue in the fourth quarter, according to financial details released by parent company Vivendi . It was the third straight year-over-year increase in quarterly revenue. Full-year ...

  18. Business Matters: Veritix, Ghostly

    November 11, 2010 12:00 AM EST Opinion and analysis of the day's music news. Veritix's $100 Million -- Ticketing continues to heat up. Veritix has taken out a five-year, $100 million line of credit to better compete with the resources of Ticketmaster. Put simply, some ...

  19. More Digital Blues, Rhapsody Edition

    April 06, 2010 12:00 AM EDT Had Rhapsody been a standalone entity in 2009, it would have reported a net loss of about $26 million and an operating loss of $54 million, according to pro forma financial statements released by RealNetworks on Tuesday. Though Rhapsody has about ...

  20. Hastings Profit Up, Music Sales Down in Fourth Quarter

    March 22, 2010 12:00 AM EDT On Monday, Hastings Entertainment reported $9.1 million of net profit on revenue of $176 million in its fourth quarter ending January 31, 2010. The entertainment retailer's revenue was down 1.4% while its profit was up 123%. Music revenues in ...

  21. 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 ...

  22. Thai Music Firm GMM Grammy Sees Lower Earnings

    November 18, 2009 12:00 AM EST GMM Grammy, Thailand's top music and entertainment group, said it expected this year's net profit to drop by 20% from last year's 705 million baht ($21.3 million) due to higher operating costs. "We see net profit this year fall ...

  23. Analysis: The Orchard Keeps Focus On Long-Term

    May 15, 2009 12:00 AM EDT The latest earnings results from digital distributor the Orchard painted a picture of a company with a focused long-term strategy for an increasingly competitive marketplace. For Q1 2009 ending March 31, 2009, the company reported revenues of $15. ...

  24. The Orchard Within Stones Throw Of Profitability In Q4

    March 26, 2009 12:00 AM EDT After getting within sight of profitability, a misstep resulted in a Q4 loss of $306,000 for digital services company The Orchard, the company reported in its Q4 and fiscal 2008 earnings report on Wednesday. Pro-forma revenues for Q4, which accoun ...

  25. Bertelsmann Triples Profit

    November 11, 2008 12:00 AM EST Bertelsmann AG, the Germany media company, has reported figures for the first nine months of 2008 including a tripling of its net profits to €387 million ($493 million). The figure to the end of September was up 193% from €132 million ($168 millio ...

  26. Handleman Reports $65 Million Loss In Quarter

    August 13, 2008 12:00 AM EDT The Handleman Co., in a continuation of its management-led liquidation, reported that the company lost $65.6 million, or $3.22 per diluted share on sales $91.5 million, for the fiscal quarter ended May 3. The company's loss is largely attribu ...

  27. The Orchard Posts $785K Loss In Q2

    August 11, 2008 12:00 AM EDT The Orchard Enterprises posted a $785,000 loss, or 12 cents per diluted share on revenues of $13.4 million, for the three-month period ended June 30. That compares with the $720,000, or 62 cents per diluted, the company lost when revenues were $6. ...

  28. Warner/Chappell Domestic Revenue Grows

    May 08, 2008 12:00 AM EDT Warner Music Group today reported that publishing revenue at Warner/Chappell Music increased in the quarter by 8.4% from the prior-year quarter to $155 million. On a constant-currency basis, revenue was flat. In the United States, publishing reven ...

  29. Handleman Reports $2.4 Million Net Income In Q3

    March 11, 2008 12:00 AM EDT The Handleman Co. posted $2.4 million in net income, or 12 cents per diluted share, on sales of $346.9 million, in its fiscal second quarter ended Jan. 31. That is almost half the earnings of the same quarter last year, when its net income totaled ...

  30. Hastings Posts Quarter Net Income Of $1.9 Million

    August 20, 2007 12:00 AM EDT Hastings Entertainment posted net income of $1.9 million, or 17 cents per diluted share, on sales of $125.9 million in the company's second fiscal quarter ended July 31. The profit total represents slightly more than a 10-fold increase from t ...

  31. Warner/Chappell Quarterly Earnings Up

    August 08, 2007 12:00 AM EDT Although Warner Music Group yesterday reported a 2% drop in revenue in third-quarter earnings for fiscal year 2007 from the same quarter last year, numbers were generally up for its publishing division, Warner/Chappell Music. Warner/Chappell' ...

  32. Hastings Entertainment Posts Q1 Gain

    May 21, 2007 12:00 AM EDT Hastings Entertainment posted net income of $2.5 million, or 22 cents per diluted share, on sales of $128 million in its fiscal first quarter, ended April 30, versus the $1.9 million, or 17 cents per diluted share it made last year when revenues w ...

  33. Univision Music Revenue Drops

    November 03, 2006 12:00 AM EST Company's television net revenue growth up 14.8%. Univision Communications, the nation's leading Spanish-language media company, reported net revenue of $536.1 million for the third quarter of 2006, an increase of 7.8% over the same peri ...

  34. Handleman Posts Q1 Loss, Music Sales Down

    September 06, 2006 12:00 AM EDT Lost $5.9 million in the first quarter. The Handleman Co posted a deeper loss in the first quarter of this year compared to last, with plummeting music sales cited as the key reason for the weak performance. Overall, the Troy, Mich.-based wholesal ...

  35. Handleman Posts Q1 Loss, Music Sales Down

    September 06, 2006 12:00 AM EDT Lost $5.9 million in the first quarter. The Handleman Co posted a deeper loss in the first quarter of this year compared to last, with plummeting music sales cited as the key reason for the weak performance. Overall, the Troy, Mich.-based wholesal ...

  36. Handleman Q4 Profits Down

    July 03, 2006 12:00 AM EDT Drop in gross margin, product returns blamed. Drop in gross margin, product returns blamed. News ...

  37. 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 ...

  38. Warner Music Posts Q2 Loss

    May 05, 2006 12:00 AM EDT Warner Music Group Corp. on Friday (May 5) posted a quarterly loss, though domestic sales were strong and digital revenues rose substantially. Warner Music Group Corp. on Friday (May 5) posted a quarterly loss, though domestic sales were strong an ...

  39. Univision Reports Strong Q4, Year Results

    March 03, 2006 12:00 AM EST Net revenue up 9% in 2005. Net revenue up 9% in 2005. News ...

  40. Sony BMG Net Income Jumps In Q3

    January 26, 2006 12:00 AM EST Company posted net $178M on sales of $1.49B. Company posted net $178M on sales of $1.49B. News ...

  41. 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 ...

  42. Warner Prefers To Return Cash Via Dividends

    December 06, 2005 12:00 AM EST Warner Music Group Corp. views an increase in the company's dividend as a preferred way to pay cash back to shareholders as opposed to paying down debt or buying back shares, a senior executive said o Warner Music Group Corp. views an increas ...

  43. Hastings Ent. Releases Financial Results

    August 25, 2005 12:00 AM EDT Chain hits earnings forecast in Q2. Although Hastings Entertainment hit its earnings forecast by generating $671,000 in net income, or six cents per diluted share, on sales of $122.7 million in the three-month period ended July 31, the Amarillo, T ...

  44. Sanctuary To Tighten Belt After H1 Hit

    June 28, 2005 12:00 AM EDT Sanctuary Group warned today (June 28) that the company's full-year earnings before interest, taxation, depreciation and amortisation would likely be "substantially less" than the previous year. Sanctuary Group warned today (June 28 ...

  45. Sanctuary To Tighten Belt After H1 Hit

    June 28, 2005 12:00 AM EDT Sanctuary Group warned today (June 28) that the company's full-year earnings before interest, taxation, depreciation and amortisation would likely be "substantially less" than the previous year. Sanctuary Group warned today (June 28 ...

  46. Coldplay, Gorillaz Delays Dull EMI Results

    May 24, 2005 12:00 AM EDT Revenue, profits down, but digital sales triple. Revenue, profits down, but digital sales triple. News ...

  47. UMG Posts Major Gains

    March 10, 2005 12:00 AM EST profit, revenue rise. 2004 profit, revenue rise. News ...

  48. 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 ...

  49. Japan's Columbia Music Reports Profit

    November 15, 2004 12:00 AM EST Tokyo-based label Columbia Music Entertainment has unveiled a consolidated net profit of ¥8 million ($75,800) for the April 1-Sept. 30 first half, compared to a loss of ¥797 million ($7.5 mi Tokyo-based label Columbia Music Enter ...

  50. Royalties: An Auditor's Perspective (Part 1 of 2)

    March 08, 2004 12:00 AM EST Although the main function of an auditor is to determine whether royalties are being paid in accordance with an agreement, there are certain areas where a knowledgeable auditor can assist an artist's NEW YORK--Most royalty auditors come into ...

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