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Posted inReports

Music Ally Quarterly Report :: The State of Music Streaming – June 2023

Our Spring/Summer 2023 quarterly report takes a comprehensive look at the world’s music streaming platforms – and gives you an analytical snapshot of the market.  Last year we noted that DSPs were “strenuously seeking differentiation”, and in 2023, this is certainly the case: the last 12 months have seen innovation and change across most platforms. […]

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Posted inNews

MelodyVR ended 2020 with 325k users… and a £26m operating loss

Since completing its merger with Napster, music startup MelodyVR has adopted that company’s brand. However, this morning it published financial results for its last full year before the deal, to 28 December 2020.

Bright spots included nearly doubling its users to 325,000, and selling around 40,000 tickets for a streamed Liam Gallagher concert. Less bright spots include, well, the financial results.

MelodyVR’s revenues did grow sharply, from £195k in 2019 to £988k in 2020 (around $1.4m). However, its cost of sales also grew from £1.8m to £5.6m, while administrative expenses grew from £14.2m to £21.5m.

In other words, those costs and expenses combined were more than 27 times the company’s revenues, leading to an operating loss of £26m. However, the newly-merged business remains optimistic.