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Spotify takes the music industry market cap crown in Omdia’s second quarter music industry share review

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LONDON, July 10, 2024 /PRNewswire/ — New analysis from Omdia has revealed that Spotify overtook Universal Music Group (UMG) to become the biggest music industry company in market capitalization terms in the second quarter of 2024. According to the Omdia’s Music Industry Sharewatch, 2Q24, Spotify’s market cap at the end of June stood at $62.5bn compared with $53.7bn for UMG. Spotify’s market cap increased 18.2% from $52.8bn at the end of the first quarter, while UMG’s edged down 1.5% from $54.5bn.

In a strong quarter for music streaming services, China’s Tencent Music Entertainment (TME) was third in the rankings. Its market cap surged 26.3% to $24.1bn from $19.1bn. As a result, Spotify’s share of the combined market cap of the 28 publicly listed music companies tracked by Omdia rose to 28.7% from 24.9%. UMG’s share decreased, to 24.7% from 25.7%, while TME’s share was up, to 11.1% from 9%.

Of the 28 tracked companies, just eight registered an increase in their share prices over the quarter. One (Mdundo) saw no change and the other 19 recorded a negative performance. The Indian music company Saregama was the top performer. Its share price opened on April 1 at INR348.05 ($4.18) and closed on June 28 at INR555.45. The company’s market cap in the quarter increased, to $1.28bn from $878m. At the other end of the scale, Brazilian live music promoter suffered the biggest decline, with its share price tumbling 50.7%, to BRL1.47 ($0.29) from BRL2.98.

The combined market cap of the 28 companies ended June at $217.5bn, compared with $212.4bn at the start of April and $194.2bn at the beginning of the year. Of the total, US-listed companies accounted for 63.3% of the combined end-June market cap total, with Netherlands-listed companies generating 24.7%, and South Korean companies 4.3%. The market cap share for streaming services stood at 41.2%, with record companies/music publishers accounting for 38.8%.

“Spotify’s impressive second quarter performance is a continuation of its success from the first quarter of this year,” said Simon Dyson, Senior Principal Analyst at Omdia. “The share price has risen almost 70% so far this year and has doubled since last October,” Dyson added.

ABOUT OMDIA:

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Fasiha Khan Fasiha.khan@informa.com

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SOURCE Omdia

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Promise Exchange Program Debuts at CES in Las Vegas Showcasing 7 Tunisian Startups

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The U.S.-funded initiative connects Tunisian entrepreneurs with U.S. and global startup communities

Explore Tunisia’s burgeoning startup ecosystem, visit with Tunisia’s Ambassador to the US, and connect with global innovators at CES January 7-10 Las Vegas, NV at the Venetian Expo Hall, Booth 50025

LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — The Promise Project, a U.S.-funded initiative to strengthen Tunisia’s entrepreneurial ecosystem, is bringing Tunisian innovation talent and startups to CES 2025 for the first time, aiming to connect Tunisian entrepreneurs with the U.S. and global startup communities.

Organized by the Tunisian American Young Professionals (TAYP), the booth will feature cutting-edge innovations from Tunisian startups in sectors such as AgTech, Energy, Robotics, Smart Cities, and Food Tech. The exhibit will spotlight Tunisia’s dynamic startup ecosystem with special guests and live demonstrations throughout the CES event.

Additionally, the program will welcome Hanène Tajouri Bessassi, the Tunisian Ambassador to the U.S. and CES along with representatives from CONECT and the French delegation from CPME (more details below).

The Promise Exchange Program is a U.S.-funded initiative in partnership with the U.S. State Department, Tunisian American Young Professionals and implemented by Deloitte.

Special Guests & In-Booth Event

Innovate Together – Building Bridges Worldwide with special guest, Hanène Tajouri Bessassi, Tunisian Ambassador to the U.S.
Hanène Tajouri Bessassi, the Tunisian Ambassador to the U.S. will be visiting the Tunisian booth at CES along with representatives from CONECT and the French delegation from CPME. 

Featured Speakers:

Mrs. Hanene Tajouri Bessassi, Ambassador of Tunisia to Washington DCHE Mrs. Nejia Gharbi,General Director of ” la Caisse des Dépôts et Consignations” – CDCMr. Tarak Triki, Managing Director Smart Capital

Date: Tues., January 7th at 3:00 – 4:00 PM
Location: Venetian Expo, Level 2, Halls A-D, Tunisian Booth # 50025

Featured Startups
The Tunisian Companies featured at Booth 50025 (in alphabetical order):

AquaDeep | AgTech
AquaDeep is revolutionizing fish farming with AI-powered counting solutions and IoT-based data extraction tools. Our modular services support aquacultures at every stage, enhancing control and efficiency.

DeepVolt | Energy
DeepVolt develops AI solutions for E-Mobility. Our flagship product, DeepVolt Location Intelligence Assistant (DLIA), enables cities and businesses to identify profitable locations for EV charging stations in minutes.

OORB (Open Organic Robotics) | Robotics OORB (Open Organic Robotics) is a young Tunisian startup featuring the OORB framework, the Robodog quadruped educational kit, and the OORB Studio & community. Our open-source framework, built on ROS with AI at its core, offers cloud-based tools for robotics development, including AI-driven code generation, CAD design, and real-time collaboration.

Smart For Green | AgTech
Our aim is to protect at-risk forests, farms and factories from the threat of fire. Our fire protection solution for farms, forests and factories is based on a multidimensional approach: predicting risks, detecting them in time and assisting response teams.

SPIRAW | Food Tech SPIRAW combines biotechnology and IoT to offer a home-based solution for growing fresh, high-quality spirulina. Inspired by Nespresso, our innovative machine automates cultivation, paired with a mobile app for monitoring, recipes, and eco-impact tracking.

Wayout  | Smart Cities Wayout’s mission is to eliminate marine pollution and reduce floodings through sustainable solutions to the infrastructure. Our first product launched is Zigofiltre; a filter that captures waste and lets water pass easily. Today we installed a little bit more than 2000 across 22 regions in Tunisia.

WeMake3D  |  Robotics WeMake3D produces locally made 3D printers fit for both the educational and industrial use. Our goal is to build the bridge between the two fields in order to accelerate the growth of the 3D printing technology in Tunisia, the MENA region and the African continent.

To learn more about the Tunisian startups, in-booth demonstrations, or schedule meetings visit the website at www.tunisianinnovationhub.com or connect via the CES 2025 App.

About Tunisia Innovation Hub
The Tunisian Innovation Hub, part of the U.S funded PROMISE project, will showcase 7 Tunisian startups at CES 2025 in Las Vegas, NV.

Organized by Tunisian American Young Professionals (TAYP), the booth highlights innovations in AI, 3D printing, renewable energy, e-mobility, marine tech, agri-tech, smart systems.

About Promise Exchange Program
Promise was founded to strengthen the Tunisian entrepreneurial ecosystem, allowing startups to attract international investments, become more scalable, and maximize economic impact. The program features multiple programs ranging from ideation bootcamps, international exchange programs, patenting assistance, and investment readiness. 

About Tunisian American Young Professionals
A non-profit organization powered by an ever-growing community of Tunisian and American professionals across various sectors of industries. We are committed to contributing our experiences and expertise to build thriving economic opportunities and vibrant cultural exchanges between Tunisia and the US.

By connecting professionals and through public-private partnerships, we create projects and initiatives focusing on Export, Entrepreneurship, Exchange and Education.

Press Contact:
Michelle Lorge
michelle@pitchcandypr.com
615-587-4980

Click here for more details about our booth at: https://ces25.mapyourshow.com/8_0/exhibitor/exhibitor-details.cfm?exhid=001Pp00000aVjSOIA0

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SOURCE Tunisian American Young Professionals (TAYP)

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Empowering Mining with Green Innovation: SANY Unveils Africa’s Largest Solar-Storage-Diesel Microgrid

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SHANGHAI, Jan. 7, 2025 /PRNewswire/ — On December 29th, SANY Silicon Energy reached a significant milestone in the international “Solar + Storage + Diesel” microgrid power generation sector by launching the Zambia Ruida Mining Microgrid Power Project. This initiative is recognized as Africa’s largest single-unit hybrid microgrid designed for mining operations, highlighting SANY’s commitment to promoting green energy transformation and sustainable development throughout the region.

Distinguished as Africa’s largest microgrid project designed for mining activities, the venture encompasses a 13 MWp solar photovoltaic (PV) system in conjunction with a 39 MWh battery energy storage system and a diesel generator as a backup power source. These components synergize to form a cutting-edge integrated microgrid system seamlessly harmonizing solar, storage, and diesel technologies. The project’s primary objective is to ensure a steadfast and dependable electricity supply for mining operations, consequently achieving energy self-sufficiency, diminishing reliance on conventional energy sources, and bolstering energy efficiency and sustainability.

Exhibiting the hallmark “SANY Speed,” the project swiftly progressed from the signing of the Power Purchase Agreement (PPA) to its commissioning within a mere four months. Despite navigating challenges posed by Zambia’s intricate topography, severe climate conditions, and logistical impediments stemming from underdeveloped infrastructure, our team demonstrated remarkable adaptability and operational efficiency.

The successful inauguration of this project signifies a pivotal juncture in SANY’s eco-conscious mining endeavors across Africa. It lays a robust groundwork for the continent’s green energy trajectory and reinforces our unwavering dedication to advancing sustainable energy solutions on a global scale.

Drawing on the expertise and technological capabilities developed through this initiative, SANY is dedicated to “Illuminating Africa” at “SANY Speed.” By actively driving the implementation of additional green energy projects, SANY seeks to lead global renewable energy trends and contribute Chinese innovation to the worldwide energy transition.

View original content to download multimedia:https://www.prnewswire.com/news-releases/empowering-mining-with-green-innovation-sany-unveils-africas-largest-solar-storage-diesel-microgrid-302345136.html

SOURCE SANY Group

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The Revolution of Travel Technology Defined at FITUR 2025

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Organized by IFEMA MADRID, the International Tourism Trade Fair brings together over 100 pioneering companies in booking management technology from around the world, from January 22 to 26.

MADRID, Jan. 8, 2025 /PRNewswire/ — In a world of constant transformation, the travel industry has embraced technology as its greatest ally. Booking management, a critical component of customer experience, is one area undergoing significant revolution. Driven by technological innovation, current trends not only optimize operational efficiency but also reshape how people plan their journeys.

Amid this digital transformation, FITUR 2025, organized by IFEMA MADRID, will host the sector’s most pioneering companies under the TRAVEL TECHNOLOGY banner from January 22 to 26. This event will unveil key technological trends that are redefining how travelers search, decide, book, and review their experiences. Following a record 23% growth in 2024, Travel Technology 2025 is expanding by nearly 10%, surpassing 100 exhibiting companies.

Located in Hall 8, companies from countries including Spain, Italy, France, the Netherlands, the UK, Germany, the US, Brazil, Singapore, and Morocco, among others, will present cutting-edge solutions to the global tourism market. These include software solutions, online booking platforms, blockchain technology for secure and transparent management, price managers, innovative payment systems, virtual and augmented reality to inspire travel decisions, and AI-powered voice assistants for personalized service. These technologies help tourism businesses achieve their goals, enhance efficiency by automating and centralizing operations and administrative tasks, and save time and costs.

The convergence of these technologies´ points to a future where booking management will become increasingly connected and integrated. All this and more will be unveiled in the Travel Technology area, the epicenter of a vital travel sector segment undergoing rapid transformation. The travel technology industry is not only adapting to the expectations of modern travelers but is also leading the way toward a more efficient, personalized, and sustainable travel experience.

From January 22 to 26, 2025, in Hall 8 at IFEMA MADRID, FITUR Travel Technology will showcase the most cutting-edge solutions for booking management. Discover the latest developments in technology specifically designed to meet the needs of the tourism industry on: Fitur 2025 | International Tourism Fair

 

 

 

SOURCE FITUR/IFEMA MADRID

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