Total Sphere revenue was $127.1 million in the quarter ended Sept. 30, down from $151.2 million and $170.4 million in the prior two quarters.
The global giant’s recorded music division enjoys a 14% spike in revenue, with streaming accounting for 65% of earnings. Publishing also gains.
Total revenue also slipped 2% for the South Korean K-pop powerhouse.
Releases by Sabrina Carpenter and Chappell Roan, subscription revenue gains and lower costs led to revenue growth and improved margins for the music giant.
The DSP says there’s “potential” for more price increases after two hikes in recent years.
The audio entertainment giant's merger with parent company Liberty Media's tracking stock in September triggered a $3.36 billion write-down of certain assets.
Snoop Dogg’s new publishing partner increased guidance slightly on its full-year revenue and adjusted EBITDA.
Summer performances from Billy Joel and Noah Kahan contributed to a record quarter.
Those quarterly dips overshadowed a 33% increase in quarterly profit driven by music subscription revenues rising by nearly 30%.
The company's recorded music division saw a 26% spike in revenue, despite a dip in sales for physical music.
