iTunes Radio closes Pandora's box
Apple’s iTunes will add free-to-the-user online and mobile radio to the platform in the autumn of 2013, meshing music purchase with enhanced tools for discovery.
iTunes Radio also meshes with Match, the cloud-based music storage and retrieval utility sold for $24.99/year, whose users will enjoy ad-free online and mobile radio.
The main casualty of iTunes Radio is likely to be #1 US internet station Pandora, which this week launched the next phase of its battle to win the better royalty terms of commercial radio. |
Media, Internet, Music and Radio |
June 2013 Access this report
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Google Play Music All Access
Google Play, the digital content platform from Google for Android devices, has added a music subscription service to the sale of music, ebooks, videos and apps
All Access, available only in the US initially, benefits from integration in Google Play, the default storefront on Android smartphones and tablets (excepting Amazon’s Kindle Fire). All Access isn’t available on Apple devices, in the majority in the US, severely limiting its reach |
Media, Internet, Music and Radio, Technology |
May 2013 Access this report
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UK commercial radio: sector update
This report provides an update on the UK commercial radio sector, covering listening trends, digital platforms, group strategies and advertising expenditure. |
Media, Music and Radio |
May 2013 Access this report
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UK recorded music still in decline
UK recorded music retail sales fell 8% in 2012 to £1 billion, as CD sales fell 21% to £540 million whilst digital formats rose 15% to £484 million on a huge 70% climb in subscriptions.
HMV store closures in 2013 will further dent CD sales, but accelerate the point of inflection (at least 50% digital sales) of the UK’s retail market.
The UK remains a robust source of royalties from performance of sound recordings, with PPL reporting revenues in 2011 of £153.5 million, up 7%. |
Media, Internet, Music and Radio |
March 2013 Access this report
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Global Radio and the GMG radio purchase
The Competition Commission has provisionally decided that local (but not national) advertisers will suffer if the Global/GMG radio merger is passed and its suggested remedies are for Global to divest stations outside London and the West Midlands or simply unravel the whole transaction.
If these provisional findings are confirmed in May 2013, Global will find itself in the unenviable position of looking for a purchaser or more of radio assets, since the transaction was finalised in June 2012. |
Media, Music and Radio |
February 2013 Access this report
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US recorded music gets some mojo
The US recorded music market (at retail level) touched bottom in 2012 on strong digital sales and adoption of digital subscription services, and will grow in 2013 The industry’s licensing revenues in 2012 were also boosted by much higher performance revenues collected by SoundExchange from digital radio services such as webcaster Pandora and satellite provider Sirius XM The margin enhancing effect of an improved sales mix as the physical to digital transition proceeds to a licensing model is mirrored in the results of Warner Music Group, which also includes a music publishing segment |
Media, Music and Radio, Non-UK Media |
February 2013 Access this report
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Media & Telecoms: 2013 & Beyond (part 1)
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 15 January 2013. The event featured talks by 14 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. |
Media, Mobile, TV, Fixed line, Press, Internet, Music and Radio, Technology, Telecoms |
January 2013 Access this report
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Slides accompanying Media & Telecoms: 2013 & Beyond (part 1)
Slides from the presentations by the following speakers at the Media & Telecoms: 2013 & Beyond conference on 15 January 2013:
•Sir Martin Sorrell, CEO, WPP
•Michael Tobin, CEO, Telecity Group
•Liv Garfield, CEO, Openreach
•Dido Harding, CEO, TalkTalk Group
•Victor Zhang, CEO, Huawei UK & Ireland
•Cindy Rose, Executive Director of Digital Entertainment, Virgin Media |
Media, Mobile, TV, Fixed line, Press, Internet, Music and Radio, Technology, Telecoms |
January 2013 Access this report
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Music publishing 2012: Recovery ahead
Music publishing has demonstrated its resilience in the past decade as revenues have remained largely intact despite first the collapse of the recorded music industry and second the worst global economic crisis in a generation in 2008-09. Music publisher revenues are estimated to have risen by 0.4% in 2011 to $5.6 billion on a constant currency basis, just 3.4% below its 2008 level (not taking into account inflation), and we forecast moderate growth to 2016. |
Media, Music and Radio |
October 2012 Access this report
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Music publishing 2012: Recovery ahead [data tables]
This file contains the data tables associated with the report Music publishing 2012: Recovery ahead [2012-109] |
Media, Music and Radio |
October 2012 Access this report
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Consolidation in UK commercial radio – positioning for a digital future
Global Radio’s acquisition of GMG Radio has cemented its dominant position in the commercial radio sector, giving it a 51% share of revenues and a 47% share of listening.
If approved by the Competition Commission, the deal will allow Global to extend the Heart brand to the North of England and Scotland, helping to establish a stable listener base ahead of the digital switchover.
We believe there is scope for further consolidation, which is likely to focus around Planet Rock and Absolute Radio – two groups that are leading the way on digital platforms. |
Media, Music and Radio |
October 2012 Access this report
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Spotify’s expensive free music
Spotify’s operating losses doubled to €46.8 million in 2011 on expansion to the US. Still, with cash consumption half of operating losses, Spotify will be around for many years
Spotify has a profitable subscription business, while the losses of the advertising-supported tier could be trimmed to produce breakeven by a more stringent policy on usage
However, with usage uncapped in the US until July 2013 and the launch in Germany in 2012, Spotify’s losses on the freemium tier could well continue to swamp the profits of the subscription side for the near term |
Media, Music and Radio |
September 2012 Access this report
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Recorded music 2012: edging to a new dawn
This report contains our annual assessment and forecasts for recorded music, in the context, as always, of the implacable physical-to-digital transition in music consumption and purchase, which continues to drain the topline of the recorded music industry.
Although 2011 was another year of decline in global recorded music retail sales, these fell just 4% in 2011 compared to 10% in the previous year, on a strong year for the album in the top markets, notably Adele’s 21 album. |
Media, Music and Radio |
July 2012 Access this report
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US music publishers reach royalty agreements
US music publishers have reached agreement on rolling over the mechanical royalties due on sales of digital and physical music formats for 2013-17
The expanded scope of the statute to cover ‘scan and match’ cloud locker services, such as Apple’s iTunes Match, provides incremental revenues to music publishers; the unlicensed ‘storage’ cloud locker services are not concerned
ASCAP’s agreement on US radio performance royalties will however reduce music publisher revenues |
Media, Music and Radio, Non-UK Media |
April 2012 Access this report
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Recorded music: is the US bouncing back?
US album volumes in 2011 rose for the first time since 2004, but lower pricing may continue the revenue decline
UK album volumes declined 5.6% in 2011. HMV’s new-found breathing space removes a key risk for the outlook
US radio royalties to music publishers have been agreed in principle and will see a return to a revenue based payment |
Media, Music and Radio, Non-UK Media |
January 2012 Access this report
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EMI: the game of musical chairs continues
Citigroup has agreed to dispose of EMI’s recorded music division to Universal Music Group, and a Sony-led consortium is buying EMI’s music publishing division
UMG’s merger with EMI may raise competition concerns in the US and EU on the already concentrated recorded music market. Citigroup bears no risk
Depending on the nature of the strategic alliance between Sony/ATV Music Publishing and EMI Music Publishing, the EU may raise competition concerns on digital licensing |
Media, Music and Radio |
December 2011 Access this report
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Spotify's freemium model gains traction
Spotify has just passed the 2 million subscriber mark in Europe and the US, and could reach 2.5 million by the end of 2011
Smartphone adoption and partnerships with MNOs and ISPs have proven a key driver of subscription in Europe for Spotify, which lacks a telecoms partner in the US. We think subscription is profitable
Spotify’s lower usage caps on the freemium tier will help compress total losses in 2011 in relation to the £25 million reported in 2010, despite the US launch |
Media, Internet, Music and Radio |
November 2011 Access this report
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UK commercial radio – advertisers tuning in
In this report we present our latest analysis of the UK commercial radio sector. Impressive listening figures for the first half of 2011 should help commercial radio listening to increase by 3.2% in 2011, following a similar improvement last year. The advertising outlook is also promising: despite the retreat of the COI, we expect advertising revenues to grow by 3.0% in 2011, backed by a strong Q3. The shift towards branded networks should reduce operating costs and make it easier for advertisers to invest in radio, building on sales house consolidation in the late 2000s. |
Media, Music and Radio |
September 2011 Access this report
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UK advertising growth slows to a crawl
Whilst UK GDP growth crawls along at a snail’s pace in 2011, (real) private consumption, its principal component, has been in sequential decline since Q4 2010, dragging consumer facing industries down
UK media are not equally affected. The internet continues to grow through search as well as display, but we expect TV NAR to be flat in 2011
Press advertising is worst affected by the downturn due to its exposure to retail advertising on top of the structural shift of classifieds to the internet |
Media, TV, Press, Internet, Music and Radio |
September 2011 Access this report
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Recorded Music and Music Publishing 2011
This report provides our annual assessment and forecasts for recorded music sales and music publishing revenues, which engage all four of the ‘majors’ – Universal Music Group (UMG), EMI, Sony and Warner Music Group (WMG). In the context of the ongoing physical-to-digital transition of music consumption, retailing and buying, documented in the report, we estimate a 10% decline in recorded music sales to $18.4 billion in 2010, the sixth consecutive year of decline. We also project further overall declines in our forecast period to 2015. |
Media, Music and Radio |
July 2011 Access this report
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