{"id":4352,"date":"2025-08-08T22:59:07","date_gmt":"2025-08-08T22:59:07","guid":{"rendered":"https:\/\/musictechohio.online\/site\/2025-q2-earnings-recap-every-music-company\/"},"modified":"2025-08-08T22:59:07","modified_gmt":"2025-08-08T22:59:07","slug":"2025-q2-earnings-recap-every-music-company","status":"publish","type":"post","link":"https:\/\/musictechohio.online\/site\/2025-q2-earnings-recap-every-music-company\/","title":{"rendered":"2025 Q2 Earnings: Here\u2019s What Every Music Company\u00a0Made"},"content":{"rendered":"<div><!-- do not apply CSS styles to this element! --><\/p>\n<div class=\"pmc-paywall\">\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tThe only sure thing in this earnings season is unpredictability. While the global economy remains resilient in the face of U.S. tariffs, and U.S. gross domestic product <a rel=\"nofollow\" href=\"https:\/\/www.npr.org\/2025\/07\/30\/nx-s1-5484219\/economy-gdp-tariffs-growth\" target=\"_blank\">grew 3% in Q2<\/a>, stocks took a hit from a <a rel=\"nofollow\" href=\"https:\/\/www.cnbc.com\/2025\/08\/01\/jobs-report-july-2025.html\" target=\"_blank\">weak U.S. jobs report<\/a> on Aug. 1, and some experts believe a constant drip, drip, drip of negative developments will cause <a rel=\"nofollow\" href=\"https:\/\/finance.yahoo.com\/news\/u-economy-experiencing-death-thousand-104325496.html\" target=\"_blank\">\u201cdeath by a thousand cuts.\u201d<\/a><\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tMusic companies\u2019 early results also offered mixed signals. Spotify, the first music company out of the gate on July 29, posted solid year-over-year growth but disappointed investors with weaker-than-expected guidance for the third quarter. Spotify shares dipped 11.6% as a result. Two days later, Universal Music Group (UMG) posted 4.5% revenue growth and 8.5% subscription growth. But investors were hesitant \u2014 was it a lack of margin improvement or concerns about cash flow? \u2014 and UMG\u2019s share price dipped 5.2% the following day.<\/p>\n<div class=\"injected-related-story \/\/ lrv-u-display-inline-block lrv-u-width-100p lrv-u-margin-t-2 u-margin-t-26@mobile-max u-margin-b-0.875@mobile-max u-margin-b-150@tablet u-border-t-12 lrv-u-padding-t-025 u-padding-b-1.313 lrv-u-padding-b-125@mobile-max lrv-u-border-color-black\">\n<div class=\"\">\n<h3 id=\"title-of-a-story\" class=\"c-title  lrv-a-unstyle-link lrv-u-whitespace-nowrap lrv-u-display-inline-block u-line-height-18px a-font-accent u-letter-spacing-0225 u-font-size-16 lrv-u-color-black lrv-u-text-transform-uppercase u-article-badge-underline a-article-esp u-display-inline-flex lrv-u-margin-b-1@mobile-max u-margin-b-9@tablet\">\n<p>\t\t\t\t\tRelated\t\t<\/p>\n<\/h3><\/div>\n<div class=\"injected-related-story-wrapper lrv-u-flex lrv-u-justify-content-space-between lrv-u-padding-tb-050@desktop a-children-border-vertical a-children-border--grey a-children-border-width-050\">\n<div class=\"o-card \">\n<p>\t\t\t<a tabindex=\"0\" href=\"https:\/\/www.billboard.com\/pro\/spotify-stock-fell-q2-earnings-analysts-worried\/\" class=\"lrv-u-color-black:hover lrv-u-flex u-flex-direction-column@desktop\"><\/p>\n<div class=\"c-lazy-image  lrv-u-height-100p lrv-u-margin-b-075 lrv-u-margin-b-00@mobile-max u-width-130px@mobile-max\">\n<div class=\"a-crop-6x4 a-crop-3x2@mobile-max lrv-u-height-100p\">\n<p>\t\t\t\t\t\t<img decoding=\"async\" class=\"c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto\" src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/decline-growth-illustration-2025-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" data-lazy-src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/decline-growth-illustration-2025-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" alt=\"Illustration of growth and decline\" data-lazy-srcset=\"\" data-lazy-sizes=\"auto\" height=\"\" width=\"\"><\/p><\/div>\n<\/p><\/div>\n<div class=\"o-card__content \">\n<p><span class=\"c-span  lrv-u-whitespace-nowrap\"><\/p>\n<p><\/span><\/p>\n<div class=\"o_category \">\n\t\t\t\t\t<\/div>\n<div class=\"c_title \">\n<h3 id=\"title-of-a-story\" class=\"c-title  a-font-basic-fancy u-font-size-15 u-font-size-16@mobile-max u-line-height-22px u-word-spacing-0013 u-line-height-23px@mobile-max a-truncate-ellipsis-3line\">\n<p>\t\t\t\t\tSpotify\u2019s Stock Tumbled After Its Mixed Q2 Earnings \u2014 But Analysts See the Bigger\u00a0Picture\t\t<\/p>\n<\/h3><\/div>\n<p><time class=\"c-timestamp  \" datetime=\"00:00-YY-DD-MM\"><\/p>\n<p><\/time><\/p><\/div>\n<p>\t\t<\/a><\/p>\n<\/div>\n<div class=\"o-card \">\n<p>\t\t\t<a tabindex=\"0\" href=\"https:\/\/www.billboard.com\/business\/legal\/soulja-boy-released-jail-gun-charges-1236037627\/\" class=\"lrv-u-color-black:hover lrv-u-flex u-flex-direction-column@desktop\"><\/p>\n<div class=\"c-lazy-image  lrv-u-height-100p lrv-u-margin-b-1 lrv-u-margin-b-00@mobile-max u-width-130px@mobile-max\">\n<div class=\"a-crop-6x4 a-crop-3x2@mobile-max lrv-u-height-100p\">\n<p>\t\t\t\t\t\t<img decoding=\"async\" class=\"c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto\" src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/soulja-boy-bet-awards-2023-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" data-lazy-src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/soulja-boy-bet-awards-2023-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" alt=\"LOS ANGELES, CALIFORNIA - JUNE 25: Soulja Boy performs onstage during the BET Awards 2023 at Microsoft Theater on June 25, 2023 in Los Angeles, California. (Photo by Paras Griffin\/Getty Images for BET)\" data-lazy-srcset=\"\" data-lazy-sizes=\"auto\" height=\"\" width=\"\"><\/p><\/div>\n<\/p><\/div>\n<div class=\"o-card__content \">\n<p><span class=\"c-span  lrv-u-whitespace-nowrap\"><\/p>\n<p><\/span><\/p>\n<div class=\"o_category \">\n\t\t\t\t\t<\/div>\n<div class=\"c_title \">\n<h3 id=\"title-of-a-story\" class=\"c-title  a-font-basic-fancy u-font-size-15 u-font-size-16@mobile-max u-line-height-22px u-word-spacing-0013 u-line-height-23px@mobile-max a-truncate-ellipsis-3line\">\n<p>\t\t\t\t\tSoulja Boy Released From Jail After Prosecutors Decline to Bring Gun Charges\t\t<\/p>\n<\/h3><\/div>\n<p><time class=\"c-timestamp  \" datetime=\"00:00-YY-DD-MM\"><\/p>\n<p><\/time><\/p><\/div>\n<p>\t\t<\/a><\/p>\n<\/div>\n<div class=\"o-card \">\n<p>\t\t\t<a tabindex=\"0\" href=\"https:\/\/www.billboard.com\/business\/radio\/siriusxm-artist-residency-maroon-5-bailey-zimmerman-1236036820\/\" class=\"lrv-u-color-black:hover lrv-u-flex u-flex-direction-column@desktop\"><\/p>\n<div class=\"c-lazy-image  lrv-u-height-100p lrv-u-margin-b-1 lrv-u-margin-b-00@mobile-max u-width-130px@mobile-max\">\n<div class=\"a-crop-6x4 a-crop-3x2@mobile-max lrv-u-height-100p\">\n<p>\t\t\t\t\t\t<img decoding=\"async\" class=\"c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto\" src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/sirius-xm-logo-2025-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" data-lazy-src=\"https:\/\/www.billboard.com\/wp-content\/uploads\/2025\/08\/sirius-xm-logo-2025-billboard-1800.jpg?w=237&amp;h=147&amp;crop=1\" alt=\"In this photo illustration, a person holds a smartphone displaying the logo of Sirius XM Holdings Inc.\" data-lazy-srcset=\"\" data-lazy-sizes=\"auto\" height=\"\" width=\"\"><\/p><\/div>\n<\/p><\/div>\n<div class=\"o-card__content \">\n<p><span class=\"c-span  lrv-u-whitespace-nowrap\"><\/p>\n<p><\/span><\/p>\n<div class=\"o_category \">\n\t\t\t\t\t<\/div>\n<div class=\"c_title \">\n<h3 id=\"title-of-a-story\" class=\"c-title  a-font-basic-fancy u-font-size-15 u-font-size-16@mobile-max u-line-height-22px u-word-spacing-0013 u-line-height-23px@mobile-max a-truncate-ellipsis-3line\">\n<p>\t\t\t\t\tSiriusXM Kicks Off Multi-Channel Artist Residency Initiative With Maroon 5 and Bailey Zimmerman\t\t<\/p>\n<\/h3><\/div>\n<p><time class=\"c-timestamp  \" datetime=\"00:00-YY-DD-MM\"><\/p>\n<p><\/time><\/p><\/div>\n<p>\t\t<\/a><\/p>\n<\/div><\/div>\n<\/div>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tBelow are summaries, listed in alphabetical order, of every music company to report second quarter earnings as of Aug. 8. <em>Billboard<\/em> will update the page as more results are announced. (If the summary includes a hyperlink, click on it to get the full story.)<\/p>\n<div class=\"container \/\/ lrv-u-margin-lr-auto lrv-a-font-body-m   \">\n<ul class=\"wp-block-list\">\n<li><strong>Cumulus Media<\/strong>. The No. 3 radio company in the U.S. posted a 9.2% drop in revenue and an 11.3% decline in adjusted EBITDA. Broadcast radio revenue was down 13.0% and digital fell 1.4%. CEO <strong>Mary Berner<\/strong> referred to a \u201cchallenging\u201d advertising environment for legacy media companies and noted that Cumulus created an additional $5 million in cost reductions in the quarter, bringing its total annualized cost cuts to $175 million over the last five years.\u00a0<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/deezer-earnings-streamer-revenue-first-half-2025\/\">Deezer<\/a><\/strong>: Total revenue was flat at 267.1 million euros ($298.1 million), and subscribers fell 7.6% to 9.2 million (subscriptions through B2B partnerships fell 21% to 3.9 million). But the French music streamer managed its costs, resulting in improved operating loss and adjusted EBITDA. The company reiterated its belief that it will finish 2025 with both positive cash flow (for the second consecutive year) and positive adjusted EBITDA. Go <a href=\"https:\/\/www.billboard.com\/pro\/deezer-earnings-streamer-revenue-first-half-2025\/\">here<\/a> for the full article. \u00a0<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/hybe-earnings-tours-bts-j-hope-jin-revenue-rise\/\">HYBE<\/a><\/strong>: South Korea\u2019s HYBE said on Aug. 6 that its second quarter revenue rose 10.2% year-over-year to $516.7 million, while operating profit jumped nearly 30% to $48.3 million due to successful global tours and releases from several of its artists, including BTS members Jin and j-hope. Recorded music revenue fell by nearly 8.5%, but that was offset by double-digit year-over-year increases in merchandise and touring revenue. The company said news of BTS members completing their military service also drove record-high engagement for its superfan platform Weverse. For more, read the <a href=\"https:\/\/www.billboard.com\/pro\/hybe-earnings-tours-bts-j-hope-jin-revenue-rise\/\">full article<\/a>.<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/live-nation-q2-earnings-revenue-up-concert-biz-booming\/\">Live Nation<\/a><\/strong>: Consolidated revenue jumped 16% to $7 billion and concert revenue improved 19% to $5.95 billion, proving that fans continue to clamor for live music despite whatever weirdness is going on in the economy. Adjusted operating income grew 11% to $798 million. Ticketmaster revenue grew 2% to $742.7 million while sponsorship &amp; advertising rose 9% to $340.6 million. Check out the <a href=\"https:\/\/www.billboard.com\/pro\/live-nation-q2-earnings-revenue-up-concert-biz-booming\/\">full article<\/a> with earnings numbers and <a href=\"https:\/\/www.billboard.com\/pro\/live-nation-q2-2025-earnings-recap-global-growth-world-cup\/\">the follow-up<\/a> with additional insights from the earnings call.<\/li>\n<li><a href=\"https:\/\/www.billboard.com\/pro\/reservoir-media-earnings-revenue-recorded-music-growth\/\"><strong>Reservoir Media<\/strong><\/a>: Quarterly revenue rose 8% to $37.2 million in the first quarter of fiscal 2026 on strong recorded music and sync revenue. Adjusted earnings before interest, taxes depreciation and amortization (EBITDA), a popular measure of profitability, was up 10% to $13.9 million. Acquisitions in the quarter, which contribute to the company\u2019s revenue from catalogs, include a strategic partnership struck with Fool\u2019s Gold and an investment in an experiential entertainment company called Lightroom. Go <a href=\"https:\/\/www.billboard.com\/pro\/reservoir-media-earnings-revenue-recorded-music-growth\/\">here<\/a> for more details.<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/siriusxm-earnings-revenue-lower-subscription-advertising\/\">SiriusXM<\/a><\/strong>: SiriusXM reported that overall revenue of $2.14 billion in the second quarter fell 2% from the year-ago quarter, pressured by lower subscriber growth, a legal settlement and higher operating expenses. The satellite radio giant is rolling out a new $7 subscription option to try to boost lagging ad revenue and subscriber growth. SiriusXM CEO <strong>Jennifer Witz<\/strong> said they will cautiously roll out the new offering, as they push other initiatives aimed at improving their standing amid a \u201cchallenging\u2026ad market.\u201d The full story is <a href=\"https:\/\/www.billboard.com\/pro\/siriusxm-earnings-revenue-lower-subscription-advertising\/\">here<\/a>.<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/sm-entertainment-earnings-revenue-up-riize-nct-wish-albums\/\">SM Entertainment<\/a><\/strong>: Album sales and events revenue from RIIZE and NCT WISH helped SM Entertainment\u2019s consolidated revenue increase 19.3% to $216.5 million. Album and digital music revenue jumped 37.9% to $70.8 million, and merchandise and licensing revenue rose 39.6% to $45.7 million. Concert revenue was flat at $24.0 million.\u00a0For a breakdown of subsidiary revenue, check out the <a href=\"https:\/\/www.billboard.com\/pro\/sm-entertainment-earnings-revenue-up-riize-nct-wish-albums\/\">article<\/a>.<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/sony-music-lifts-revenue-increases-full-year-forecast\/\">Sony Music<\/a><\/strong>: Led by Bad Bunny\u2019s <em>DeB\u00cd TiRAR M\u00e1S FOToS<\/em>, SZA\u2019s <em>SOS<\/em> and Sleep Token\u2019s <em>Even in Arcadia<\/em>, Sony Music\u2019s consolidated revenue was up 5.3% to $3.22 billion in the first fiscal quarter ended June 30. A strong yen made year-over-year comparisons a challenge. Recorded music was up 0.7% to $2.09 billion but improved 8.4% on a dollar basis (Sony does not report results in constant currency). Music publishing revenue rose 2.1% as reported; on a dollar-denominated basis, it improved 9.8%. More info at <a href=\"https:\/\/www.billboard.com\/pro\/sony-music-lifts-revenue-increases-full-year-forecast\/\">the full article<\/a>.\u00a0<\/li>\n<li><strong>Sonos<\/strong>. Revenue of $344.8 million was down 13.2% from the prior-year period, the company <a href=\"https:\/\/investors.sonos.com\/news-and-events\/investor-news\/latest-news\/2025\/Sonos-Reports-Third-Quarter-Fiscal-2025-Results\/default.aspx\" rel=\"nofollow\" target=\"_blank\">announced<\/a> Aug. 7. Gross margin fell to 43.4% from 44.7% as CFO <strong>Saori Casey<\/strong> noted \u201ca complex environment marked by tariffs and an uncertain macroeconomic backdrop.\u201d Go <a href=\"https:\/\/www.billboard.com\/t\/sonos\/\">here<\/a> for <em>Billboard<\/em>\u2018s coverage of Sonos, including its recent layoffs and how it cut sales projections after a disastrous app redesign in May 2024.\u00a0<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/spotify-q2-2025-earnings-subscribers-profit-revenue\/\">Spotify<\/a><\/strong>: The streaming giant enjoyed another quarter in which it beat its own subscriber and monthly user growth targets, but a lukewarm financial forecast from executives and lower quarterly operating income due to currency fluctuations and taxes caused a sharp one-day selloff in its stock. Check out our article about the <a href=\"https:\/\/www.billboard.com\/pro\/spotify-q2-2025-earnings-subscribers-profit-revenue\/\">earnings release<\/a> and a <a href=\"https:\/\/www.billboard.com\/pro\/spotify-q2-earnings-report-highlights-subscribers-ad-growth\/\">follow-up story <\/a>with takeaways from the company\u2019s second quarter results.\u00a0<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/universal-music-earnings-revenue-q2-subscription-gains\/\">Universal Music Group<\/a><\/strong>: Revenue increased 4.5% to $3.38 billion while recorded music subscription revenue rose 8.5% to $1.36 billion (all growth figures in constant currency). Elsewhere, music publishing soared 14.5% with a boost from Chord Music Partners, but both merchandising and physical recorded music dipped. For more, read our <a href=\"https:\/\/www.billboard.com\/pro\/universal-music-earnings-revenue-q2-subscription-gains\/\">earnings story<\/a> and a <a href=\"https:\/\/www.billboard.com\/pro\/universal-music-q2-earnings-highlights-streaming-superfans\/\">follow-up article <\/a>with takeaways from the results.\u00a0<\/li>\n<li><strong><a href=\"https:\/\/www.billboard.com\/pro\/warner-music-revenue-rises-9-recorded-music-publishing-q2-2025\/\">Warner Music Group<\/a><\/strong>: WMG reported revenue\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.billboard.com\/pro\/warner-music-revenue-rises-9-recorded-music-publishing-q2-2025\/\">grew<\/a> <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.billboard.com\/pro\/warner-music-revenue-rises-9-recorded-music-publishing-q2-2025\/\">to $1.7 <\/a>billion\u00a0in the last quarter, thanks to a double-digit increase in publishing revenue and strong subscription streaming returns. That helped offset the impact of losing BMG as a distribution client and helped push Warner\u2019s stock price up by 3.5%. All the details at <a href=\"https:\/\/www.billboard.com\/pro\/warner-music-revenue-rises-9-recorded-music-publishing-q2-2025\/\">the full article<\/a>. More insights are in <a href=\"https:\/\/www.billboard.com\/pro\/warner-music-earnings-cost-cuts-market-share-catalog\/\">the follow-up article<\/a>.<\/li>\n<li><strong>YG Entertainment<\/strong>: The K-pop company behind BLACKPINK improved its Q2 revenue 11.6% to 100.4 billion KRW ($72.2 million). Operating income improved to 8.4 billion KRW ($6 million) from an 11 billion KRW ($7.9 million) operating loss in the prior-year period.  <\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>","protected":false},"excerpt":{"rendered":"<p>The only sure thing in this earnings season is unpredictability. While the global economy remains resilient in the face of U.S. tariffs, and U.S. gross domestic product grew 3% in&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[387,502,3243,3108,3241,3242,3129,118,2522],"tags":[],"class_list":["post-4352","post","type-post","status-publish","format-standard","hentry","category-business","category-business-news","category-deezer","category-earnings","category-earnings-reports","category-music-earnings","category-siriusxm","category-spotify","category-universal-music"],"_links":{"self":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts\/4352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/comments?post=4352"}],"version-history":[{"count":0,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts\/4352\/revisions"}],"wp:attachment":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/media?parent=4352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/categories?post=4352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/tags?post=4352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}