Reports Music

Music industry earnings 2021 Riding the wave

Report by Mark Mulligan
Cover image for Music industry earnings 2021
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20,000 foot view:  In this report MIDiA presents, contrasts and analyses headline financial metrics of            leading music industry companies across labels, publishers, streaming and live. The companies tracked represent more than half of total global music industry revenues across these sectors. 

Key insights :

All figures refer to growth of the            tracked companies

  • The combined            growth rate of the tracked            across labels, publishers, digital service            (DSPs) and live was            in           
  • Live, still            from the pandemic collapse, increased            share of total to            up                       in 2020, but this was            far below its            share in           
  • Major labels            DSPs both grew streaming revenues                       despite each having hedges against            other (labels: non-DSP streaming, DSPs:            entertainment and podcasts)
  • UMG remained            largest label group, with revenues                       to            billion – but Sony            Group (SMG) grew faster            to                       billion
  • Believe grew            than all of the majors                       to reach            billion) while HYBE            its recorded music revenues by            even stronger           
  • Music publishers            by            with Warner Chappell growing                      
  • Spotify dominated            streaming revenue with            billion, but            Tencent Music Entertainment (TME) and            Cloud Music grew faster            and           
  • Pandora, despite            a userbase that is            times            than TME’s, still generated            more            in 2021
  • Spotify’s 2021            base grew by            to hit            compared to            and            growth for            and NetEase Cloud Music respectively

Company financials covered in this report: Believe, HYBE, Live Nation, LiveXLive, NetEase Cloud Music, Pandora, Reservoir Media, Sony Music Group, Spotify, Tencent Music Entertainment, Universal Music Group, Warner Music Group

Companies and brands mentioned in this report: Believe, HYBE, Ithaca Holdings, Live Nation, LiveXLive, Meta, NetEase Cloud Music, Pandora, Peloton, Reservoir Media, Sony Music Group, Sony Music Publishing, Slacker, Snap, Spotify, Tencent Music Entertainment, TikTok, Universal Music Group, Universal Music Publishing, Warner Music Group, Warner Chappell

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