STREAMING AUDIO – AUSTRALIA

Songwriting becomes boom export industry

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Original article by Michael Bailey
The Australian Financial Review – Page: 10 : 29-Nov-17

Australian songwriters earned $A43.5 million from foreign royalties in 2016-17, according to APRA AMCOS. This compares to just $A21.8 million in 2012-13, with the doubling in royalties collection attributed to the growth of music streaming services such as Spotify and Apple Music. Jake Mason from Melbourne band Cookin’ On 3 Burners says the popularity of music streaming has helped to make it more well known internationally, but that new artists still struggle to make a name for themselves in the music industry.

CORPORATES
AUSTRALASIAN PERFORMING RIGHT ASSOCIATION LIMITED, AUSTRALASIAN MECHANICAL COPYRIGHT OWNERS SOCIETY LIMITED, APPLE INCORPORATED, SPOTIFY LIMITED, YOUTUBE INCORPORATED

Will Netflix, Spotify and Foxtel take off on Qantas?

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 6-Mar-17

A Roy Morgan Single Source survey has found that of the 22% of Australians aged 14+ who take at least one domestic flight with Qantas during the year, 87% own a smartphone and 76% own a tablet computer – both above the national ownership rates of 80% and 65% respectively. However, while these millions of passengers will likely be carrying a compatible device on board, only 60% currently use any of Qantas’s three new in-flight entertainment providers: Foxtel, Netflix and Spotify. Some 33% of Qantas domestic flyers watched Foxtel in the last four weeks, including its streaming options Go and Play, while 32% watched Netflix and 22% listened to Spotify.

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ROY MORGAN RESEARCH LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, SPOTIFY LIMITED

Streaming taking its toll on online music purchases

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 17-Aug-16

A Roy Morgan Single Source survey has found that just 4.6 per cent of Australians aged 14+ paid to download music and 1.1 per cent purchased CDs online in any given four-week period in the year to March 2016. This compares with 6.1 per cent and 2.1 per cent respectively in the year to March 2012. Meanwhile, the proportion of Australians who stream music online in an average four weeks has risen from 10.3 per cent in 2012 to 19.7 per cent in 2016. Likewise, the proportion of Australians using streaming radio has risen from 6.1 per cent to 9.6 per cent.

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ROY MORGAN RESEARCH LIMITED

Troubled Guvera’s London IPO plan

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Original article by Misa Han
The Australian Financial Review – Page: 8 : 7-Jul-16

Documents filed in court show that Australian streaming music provider Guvera originally intended to list on the London Stock Exchange rather than the local bourse. Guvera abandoned plans for a London listing following the collapse of its UK subsidiary Blinkbox, which boasted about 2.5 million subscribers when it was bought in early 2015. Guvera had acquired Blinkbox in order to facilitate its British IPO. Guvera’s Australian IPO was subsequently rejected, prompting two subsidiaries to be placed in administration.

CORPORATES
GUVERA LIMITED, BLINKBOX, LONDON STOCK EXCHANGE, ASX LIMITED – ASX ASX, TESCO PLC, FEDERAL COURT OF AUSTRALIA, DELOITTE TOUCHE TOHMATSU LIMITED

Thwarted Guvera eyes an alternative listing

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Original article by David Swan
The Australian – Page: 21 : 22-Jun-16

Streaming music provider Guvera may seek to list on the National Stock Exchange after its IPO was vetoed by ASX Limited. Listing on the NSX is believed to be one of the options under consideration by Guvera, which posted a loss of about $A80m for the first nine months of 2015-16. The company’s business model has been criticised by its former COO, Michael Wallis-Brown. Atlassian co-founder Mike Cannon-Brookes has also supported the ASX’s decision to block the IPO.

CORPORATES
GUVERA LIMITED, ASX LIMITED – ASX ASX, NATIONAL STOCK EXCHANGE OF AUSTRALIA LIMITED, ATLASSIAN CORPORATION PLC, AMMA PRIVATE EQUITY PTY LTD

Guvera critics back ASX ban

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Original article by Yolanda Redrup, Sally Rose
The Australian Financial Review – Page: 15 : 21-Jun-16

Axstra Capital MD Reuben Buchanan and Atlassian co-founder Mike Cannon-Brookes have expressed support for the ASX’s decision to block Guvera’s IPO. The latter says investors would have lost their money if the streaming music provider’s IPO had been allowed to proceed. Guvera posted an $A81m loss in 2014-15, on revenue of just $A1.2m. However, TechnologyOne CEO Adrian Di Marco has criticised the ASX’s decision.

CORPORATES
GUVERA LIMITED, AXSTRA CAPITAL PTY LTD, ATLASSIAN CORPORATION PLC, TECHNOLOGY ONE LIMITED – ASX TNE, ASX LIMITED – ASX ASX, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BITCOIN GROUP LIMITED, EM ADVISORY PTY LTD, REDBUBBLE LIMITED – ASX RBL, AMMA PRIVATE EQUITY PTY LTD

Guvera committed to stockmarket listing

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Original article by David Swan
The Australian – Page: 19 : 14-Jun-16

Guvera CEO Darren Herft says the streaming music provider intends to proceed with its proposed IPO. The Australian Securities & Investments Commission has subjected the group’s prospectus to increased scrutiny, but Herft says Guvera is co-operating with ASIC to address its concerns. However, Guvera’s former commercial officer Michael Wallis-Brown disputes the number of active users that is claimed in the prospectus, and says the IPO should not proceed.

CORPORATES
GUVERA LIMITED – ASX GUV, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Private equity gives Guvera cold shoulder

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Original article by Sally Rose
The Australian Financial Review – Page: 21 : 10-Jun-16

The proposed sharemarket float of Guvera is backed by AMMA Private Equity, which was established by Darren Herft, who also co-founded the streaming music provider. He is CEO of Guvera and executive chairman of AMMA. Australian Private Equity & Venture Capital Association CEO Yasser El Ansar is concerned that the IPO could damage the reputation of the private equity industry. El Ansar says members of AVCAL – which do not include AMMA – must comply with a strict code of conduct, which includes their relationship with the businesses in which they invest.

CORPORATES
GUVERA LIMITED – ASX GUV, AMMA PRIVATE EQUITY PTY LTD, AUSTRALIAN PRIVATE EQUITY AND VENTURE CAPITAL ASSOCIATION LIMITED, BENCHMARC GROUP, PACIFIC EQUITY PARTNERS PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, ARCHER CAPITAL PTY LTD, KKR AUSTRALIA PTY LTD

ASIC and ASX could block Guvera float

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Original article by Sally Rose
The Australian Financial Review – Page: 18 : 9-Jun-16

The proposed IPO of streaming music provider Guvera is under scrutiny. Guvera aims to raise between $A40m and $A100m via the float, which would value the company at $A1.3bn. However, the Australian Shareholders’ Association has expressed concern that companies are permitted to list on the Australian sharemarket despite being unprofitable. Guvera booked revenue of $A1.2m in 2015 and a loss of $A81.1m.

CORPORATES
GUVERA LIMITED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, ASX LIMITED – ASX ASX, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMMA PRIVATE EQUITY, DH FLINDERS PTY LTD

Streaming sends music sales bouncing upwards

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 11-Apr-16

Data from the Australian Recording Industry Association shows that sales of recorded music grew by five per cent in 2015, to $A334m. Sales of digital music increased by 11 per cent to $A208m, with music streaming services boasting revenue of $A71.1m. However, sales of physical music were three per cent lower at $A126m, although this followed an 18 per cent decline in 2014.

CORPORATES
AUSTRALIAN RECORDING INDUSTRY ASSOCIATION LIMITED, APPLE INCORPORATED, SPOTIFY LIMITED, YOUTUBE INCORPORATED, CREDIT SUISSE AG, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TELSTRA CORPORATION LIMITED – ASX TLS, VEVO, FUTURE CLASSIC, ENDEMOL SHINE AUSTRALIA PTY LTD