Subscription growth is strong (albeit slowing), publishers are excelling and live music is surging.
year over year. Chinese music streaming service Cloud Village reports first-quarter earnings on May 24.At Universal Music Group, recorded music accounted for 78.3% of revenue but delivered only 61% of first-quarter revenue growth despite. UMG’s publishing division accounted for 17.1% of total revenue but 26.7% of total revenue growth. Merchandising was 4.9% of UMG’s total revenue and 12.3% of its revenue growth. At Warner Music Group, publishing’s share of revenue grew to 16.7%, up from 15.
, revenue jumped more than six-fold in the first quarter after the lifting of COVID-19 restrictions. More importantly, the company expects double-digit growth this year compared to 2019, the best year for comparison because COVID affected every quarter in 2020. Live Nation has sold 70 million tickets for shows in 2022, a 36% increase from the same point in 2019, and committed show count is up 44% through late April.
MSG Entertainment’s entertainment revenue grew more than six-fold to $194.6 million thanks to the lifting of COVID restrictions. Minus MSG Networks, which merged with MSG Entertainment in July 2021, the company had $292.5 million in revenue, up 17% from the same period in 2019. Vivid Seats’ first-quarter revenue was up 442% from the prior-year period. The company increased second-quarter guidance for both revenue and gross order value . Music accounted for 53.1% of revenue, up from 31.9% in the prior-year period. Marketplace order volume increased 589%. At Eventbrite, first-quarter paid tickets rose 78% year over year, and net revenue per ticket increased 13.6%.: $107.19, +1.0%, -54.2% YTD: $29.76, +2.3%, -31.1% YTD: $12.13, -5.2%, -42.
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