Labels
Warner Music Posts $1.5B in Quarterly Revenue as Publishing Rises 32%
Warner Music Group, helped by digital revenue growth across recorded music and publishing, reported quarterly revenues rose 16% at constant currency (9% as reported) to $1.5 billion in the fiscal fourth quarter ended Sept. 30, the company announced Tuesday (Nov. 22). Adjusted earnings before interest, taxes, amortization and depreciation (EBITDA) grew by 16% to $276 million. In his final quarterly earnings after 12 years as Warner Music’s chief executive, Steve Cooper said, “Against the backdrop of a challenging macro environment, we once again proved music’s resilience, with new commercial opportunities emerging all the time. We’re very well positioned for long-term creative success, and continued top and bottom line growth. We’re excited to have Robert Kyncl joining next year as WMG’s ne...
Egyptian TikTok influencer to appeal 10-year trafficking sentence
Egyptian TikTok influencer Haneen Hossam will appeal a 10-year prison sentence handed down by a Cairo court that found her guilty of human trafficking, her lawyer said on Monday. In the latest twist in a nearly year-long saga, the court also fined the 20-year-old Cairo University student 200 000 Egyptian pounds ($13 000) on Sunday for encouraging women to share footage on the video-sharing app in exchange for money. “We will demand restoration of the case proceedings because there are contradictions between the verdict and the merits on which the court’s decision is based,” said lawyer Hani Sameh. “We hope that she can get a reduced jail sentence or an acquittal,” he told the Thomson Reuters Foundation. Several women have been accused of “inciting debauchery” for challenging Egypt’s conser...
Apple Music pays one penny per stream
Engadget Apple Music’s payment rate for artists and labels is fundamentally a penny per stream, according to a letter from the company posted on its artist dashboard and first reported by the Wall Street Journal. That payment rate is higher than Spotify, which has a confusing variable rate scheme that basically tops out at a half-penny per stream. Announcing a penny-per-stream rate is a nice PR win for Apple Music, since it is 1. very simple and 2. Spotify hates talking about its per-stream payments, which the company insists are a misleading figure. Seriously, it just launched an entire website called Loud&Clear last month designed to help artists and fans understand how payments work, and a good chunk of it is devoted to explaining why per-stream rates are not the right thing to focu...
Facebook removes Donald Trump video over US Capitol attack
As rioters stormed the US Capitol on Wednesday, Facebook removed a video from President Donald Trump responding to the violence. The decision came around an hour after the video was posted on the platform. “This is an emergency situation and we are taking appropriate emergency measures, including removing President Trump’s video,” Guy Rosen, Facebook vice president of integrity, said in a tweet Wednesday. “We removed it because on balance we believe it contributes to rather than diminishes the risk of ongoing violence.” This is an emergency situation and we are taking appropriate emergency measures, including removing President Trump’s video. We removed it because on balance we believe it contributes to rather than diminishes the risk of ongoing violence. — Guy Rosen (@guyro) January...
Donald Trump will lose special Twitter protections when Joe Biden takes office
U.S. President Donald Trump will be subject to the same Twitter rules as any other user when President-elect Joe Biden takes office on Jan. 20, the social media company confirmed this week. Twitter places “public interest” notices on some rule-breaking tweets from “world leaders” that would otherwise be removed. Such tweets from political candidates and elected or government officials are instead hidden by a warning and Twitter takes actions to restrict their reach. But the company said this treatment does not apply to former office holders. “This policy framework applies to current world leaders and candidates for office, and not private citizens when they no longer hold these positions,” a Twitter spokesman said in a statement. It has added multiple warnings and labels to tweets from the...
