business
Disney’s Q4 2021 Performance Misses Expectations as Streaming Subscription Growth Slows
Amid slowing growth for its Disney+ streaming platform, media giant Disney has failed to meet expectations for Q4 of 2021. According to the company, revenue came in at $18.53 billion USD over the past quarter, falling just shy of the $15.78 billion USD expectation. Earnings per share dropped 20 cents year on year to 37 cents per share, as opposed to the predicted 49 cents per share. Most importantly, Disney+ subscriptions only reached 118.1 million, coming 1.5 million short of the 119.6 expected. Disney attributes much of this quarter’s struggles to the ongoing COVID-19 pandemic, which has caused many productions across the globe to shutter, delaying the company’s release schedule and slowing the flow of new content on Disney+. “Although film and television production generally resumed beg...
Roblox Reports Exceptional Q3 2021 Results With 102% Increase in Revenue
The Roblox Corporation has posted exceptional results for Q3 of 2021. According to the company’s report, revenues from Roblox increased 102% year over year to reach $509.3 million USD, while net cash provided by operating activities came in at $181.2 million USD, with free cash flow increasing 7% to $170.6 million USD. Bookings also increased by 28% during the quarter to $637.8 million USD. Most impressively, the platform’s average daily users reached 47.3 million players, marking an increase of 31%, with hours engaged going up 28% to a staggering 11.2 billion hours. “Engagement is our north star. We’re very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox,” said David Baszucki, Chief Executive Officer of Ro...
Aluna Is Launching a New Orleans Dance Festival With an All-Black Lineup
“I’ve talked a lot about the future of dance music I want to see, and here it is,” Aluna tells Billboard. “This unique experience of honoring dance music’s heritage and getting a taste of what’s to come will reignite a much needed connection back to what dance music is all about – creating a place where people from all different communities can come together and dance their hearts out feeling free to be themselves.” Produced in partnership with Pollen Presents, the festival will celebrate the Black and LGTBQ+ origins of dance music in a city famous for Black and brown musical excellence. In addition to performances — which will include late night warehouse parties — Noir Fever will also host a speaker series with keynote talks, workshops and a marke...
Mariah Carey Teams Up With McDonald’s For a Menu of Free Goodies Leading Up to Christmas
“Some of my favorite memories with my kids are our family trips to McDonald’s, and of course, each of us has our go-to order. Mine is the Cheeseburger, and I get it with extra pickles,” Carey said in a press release for the announcement. “Bringing together some of our favorite food from McDonald’s with my all-time favorite season is a holiday wish come true.” “Mariah goes with the holidays like ketchup and fries, so we couldn’t think of a better partner to help us celebrate the upcoming season,” said Jennifer Healan, vice president, U.S. marketing, brand content and engagement of McDonald’s USA. “Just like McDonald’s brings people around the table with their favorite orders, Mariah’s music connects us all during ...
Jay-Z Wins Trial Over Soured Cologne Deal
“You failed to prove your case, they failed to prove their case,” Justice Andrew Borrok said to an attorney for Parlux after the verdict was read aloud in court. “You’re excused.” Wednesday’s verdict came after nearly six years of litigation over “Gold Jay-Z,” which the superstar launched in 2013 through a partnership with Parlux, which had previously launched licensed fragrances with other major artists like Rihanna. Parlux accused Jay-Z and his S. Carter Enterprises of failing to promote the fragrance, breaching the terms of their business contract and costing the company millions. The lawsuit said he refused to appear for events like Good Morning America and then refused to approve later iterations needed to keep the brand relevant. Jay-Z denied ...
Latest Astroworld Lawsuit Filed by Family of 9-Year-Old Boy ‘Trampled’ at Festival
“This young child and his family will face life-altering trauma from this day forward, a reality that nobody expects when they buy concert tickets,” said Benjamin Crump, the family’s attorney, in a statement. “Concerts and music festivals such as this are meant to be a safe place for people of all ages to enjoy music in a controlled environment. None of that was true about the Astroworld Festival.” In addition to Scott, the lawsuit also named promotors Live Nation and ScoreMore as defendants, as well as many others involved in planning and operating Astroworld. Friday’s deadly crush occurred during the first night of a two-day festival attended by more than 50,000 people at Houston’s NRG Park stadium complex. Witnesses report thousands of fans pressing toward the stage, causing a panicked ...
Session Musicians Win Greenlight for $8M Royalty Fee Settlement With AFM, SAG-AFTRA
The lawsuit, filed by musician Kevin Risto in June 2018, accused AFM and SAG-AFTRA of essentially taking an illegal cut from the recording royalties that are paid to so-called non-featured artists — better known as session musicians. The two unions administer the Intellectual Property Rights Distribution Fund, which holds performance royalties from non-interactive digital streaming services like Pandora for the use of copyrighted sound recordings. The fund then distributes that money to session musicians, both union and non-union alike. Risto, a non-union musician, accused AFM and SAG-AFTRA of exploiting their control over the fund to improperly tack on a new 3% service fee, paid directly to the unions, before distributing that money. The lawsuit said the new fee was not in the best ...
Tencent Music Ekes Out 3% Revenue Gain After Tough Quarter
At the end of the quarter, QQ Music’s daily video views and viewers reached 100mm and 18mm respectively, representing triple-digit annual growth. Music streaming services may bear the name “music” but are increasingly “pan-entertainment,” a term TME used to describe competitors that lured away its “casual users” and caused monthly average users to drop from the second quarter. (Music users’ average revenue per user slid to 8.9 RMB ($1.39) from 9.4 RMB ($1.47) in the prior-year period.) In addition to focusing on videos, TME is building its live-streaming business, used by 10,000 musicians by the end of the third quarter, and long-form audio — audiobooks, podcasts — that reach 140 million users monthly, up 89% increase year over year...
Maxwell and His Musze Enter New Label Partnership With BMG
Added BMG president, repertoire & marketing, New York and Los Angeles Thomas Scherer, “Throughout his career, Maxwell has continually and thoughtfully raised the bar in his craft. He is central to what the team is building and accomplishing in BMG’s R&B and hip-hop repertoire. Welcome Maxwell … you’re very much a part of our family now, and we’re excited to help write the future chapters of your success.” Maxwell, who will be presented with the Legend Award at the Soul Train Awards later this month, launched his professional recording career in 1996 with debut album Maxwell’s Urban Hang Suite. The critically acclaimed, Grammy-nominated album, which is certified two-times platinum, spun off the hits “Ascension” and “Sumthin’ Sumthin’,” certi...
Gabby Barrett, Blanco Brown & More Among 2022 CRS New Faces of Country Music Finalists
This year, Barrett earned her second No. 1 hit with a three-week run at the pinnacle of Billboard‘s Country Airplay chart with “The Good Ones.” Also among those earning No. 1 hits on Billboard‘s Country Airplay over the past year were Brown (“Just The Way,” with Parmalee), Moon (“Good Time“), Shane (“My Boy“), Wilson (“Things a Man Oughta Know“), McCollum (“Pretty Heart”), and Rodgers (who earned his second No. 1 hit with “Cold Beer Calling My Name” featuring Luke Combs). Hayes, who released his debut single in 2010, has earned one of the biggest all-genre hits of the year with “Fancy Like,” which has reached No. 1 on several Billboard charts, including Hot Country Songs and Cou...
ASCAP Country Music Awards: Josh Osborne Earns First Songwriter of the Year Win
Ashley Gorley’s “One of Them Girls” (recorded by Lee Brice) was named ASCAP country music song of the year. ASCAP social media will highlight Gorley’s award acceptance for the certified platinum single, which hit the pinnacle of the Billboard Country Airplay chart. Sony Music Publishing was named publisher of the year at the ASCAP Country Awards for the first time since 2012. The company’s winning songs included “Breaking Up Was Easy in the 90’s” (Sam Hunt), “Hole in the Bottle” (Kelsea Ballerini), “Lady” (Brett Young) and “Things a Man Oughta Know” (Lainey Wilson). Sony Music Nashville CEO Rusty Gaston will be featured on ASCAP’s social media platforms, thanking their songwriters and staff. The ASCAP Country Music Awards social media rollout will also feature performances of t...
Marvel’s ‘Eternals’ Tops Box Office With $71 Million USD
Marvel‘s Eternals opened at the top of weekend box office, raking in $71 million USD in North America. Chloé Zhao‘s Marvel film debuted lower than the numbers of Black Widow and Shang-Chi and the Legend of the Ten Rings, which opened with $80.3 million USD and $75.5 million USD, respectively. Eternals did, however, open in international markets like the United Kingdom, France, Germany, South Korea and Australia, earning $161.7 million USD at the global box office and making it the second-highest global weekend behind F9. Despite starring the likes of Gemma Chan, Richard Madden, Kumail Nanjiani, Lia McHugh, Brian Tyree Henry, Lauren Ridloff, Barry Keoghan, Don Lee, Harish Patel, Kit Harington, Salma Hayek, and Angelina Jolie, Eternals was previously named the lowest-rating Marvel film on Ro...
