Music
Based on the latest financial numbers published by Google and parent company Alphabet, YouTube’s advertising revenues hit $6.89 billion in Q4 2020, up 46% year-on-year. That number accounted for just over 12% of Alphabet’s overall revenues of $56.9 billion for the quarter.
In the same quarter of 2020, Spotify announced that 25% of its total user base engaged with podcast content in the period, and podcast consumption nearly doubled year-over-year. The company also reached 155 million Premium subscribers - up 24% - adding a record 30 million for the year.
A consortium led by Tencent acquired an additional 10% in Universal Music Group (UMG) as announced last week. This takes the Tencent consortium’s holding in UMG from 10% to 20% and reduces UMG parent Vivendi’s ownership stake in the music firm to 80%. Vivendi hinted that the proposed IPO of UMG could happen this year, or in “early 2022 at the latest”.
Minefields Video: www.youtube.com/watch?v=jKIEUdAMtrQ
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#YouTubeAds #SpotifyPodcast #Tencent #UMG #Exploration #MusicIndustryNews
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