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2
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· Posted on
February 21, 2024

Warner Music revenues are up 22% thanks to TikTok and ya don't Say So

Warner Music Group are one of the 'big three' global record labels, representing some massive names like Cardi B, Ed Sheeran and Dua Lipa.

What's the key learning?

  • Warner Music have reported a 22% increase in revenue to US$1.38 billion for their fourth-quarter.
  • Digital revenue - aka revenue from digital platforms like streaming services - also increased by 19%
  • Warner Music reckons that TikTok trends and Peloton beats have a lot to do with this.

Background: Warner Music Group are one of the 'big three' global record labels. And they represent massive artists like Cardi B, Ed Sheeran and Dua Lipa.

What happened: Warner Music have just reported some huuuge fourth-quarter earnings. We're talkin' a 22% increase in revenue to US$1.38 billion.

What else: Digital revenue - aka revenue from digital platforms like streaming services - also increased by 19%. Warner Music reckons that TikTok trends and Peloton beats have a lot to do with this.

So what's the key learning?

💡While TikTok is influential for many industries, its impact on music is nek level. Songs that become trendy on TikTok often end up becoming chart toppers. Think: Jason Derulo's 'Savage Love'...Doja Cat's 'Say So'...

💡Research shows more than two-thirds of TikTok users are likely to seek out songs on music-streaming services after hearing them on the app.

💡It's also about the marketing. Marketers often hire influencers to help a song take off. So if you reckon TikTok is just another addictive social media tool...ya dreamin'. It's a whoole lot more.

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