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Top related persons:
Agnieszka Pustula - 1 Pustula - 1 — CNBC's Michael Bloom - 1
Top related locs:
Australia
Top related orgs:
Spotify - 1 Amazon - 1 Amazon Music - 1

Search resuls for: "Agnieszka Pustula"


2 mentions found


☆ Redburn Atlantic downgrades Spotify, cites risks to audiobook expansion plans
  + stars: | 2023-10-09 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
Spotify's latest move to expand its audiobook offerings to subscribers isn't without risks, according to Redurn Atlantic. The firm downgraded the music streaming giant to neutral and lowered its price target to $160 from $170. "In total this could erase 200bp of gross margin. Furthermore, we estimate that new subscribers that immediately take up audiobooks would generate negative gross margins." "Amazon's Audible is currently the market leader in audiobooks and there is a risk it would bundle it up with music, diminishing the competitive advantage and the pricing power of Spotify," Pustula said.
Persons: Agnieszka Pustula, Pustula, — CNBC's Michael Bloom Organizations: Spotify, Amazon, Amazon Music Locations: Australia
☆ Universal Music reiterates AI concerns as quarterly profit slumps
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +2 min
April 26 (Reuters) - Universal Music Group (UMG.AS), the label representing Drake and Taylor Swift, on Wednesday posted a slump in first-quarter core profit due to compensation expenses, and reiterated concerns over AI-made music. Core profit, or earnings before interest, taxes, depreciation and amortisation (EBITDA), slumped 43.4% in constant currency to 261 million euros ($288.04 million), due to non-cash, share-based compensation expenses, part of an equity compensation plan announced last year. Excluding these expenses, adjusted EBITDA was 522 million euros, up 13.0% on the same basis, and beating a consensus cited by Credit Suisse which had expected 513 million euros. UMG's CEO, Lucian Grainge, has come under shareholder pressure over an "excessive" $100 million pay deal, The Financial Times reported on Wednesday. Labels now face challenges like slowing global revenue growth in recorded music, particularly in established markets like the U.S, while the emergence of AI-generated music adds to their concerns, as many laws do not currently deem the replication of artists' voices as strictly illegal.
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