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Spotify increases music industry market cap market share in Omdia’s third quarter music industry share review

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LONDON, Oct. 2, 2024 /PRNewswire/ — According to new analysis from Omdia, Spotify has increased its market share of the leading music companies’ combined market capitalization in the third quarter of this year.

After overtaking Universal Music Group (UMG) to become the biggest music industry company in the second quarter, Omdia’s Music Industry Sharewatch, 3Q24 has revealed that Spotify’s market share of the 28 companies tracked ended September at 32.9%, up from 28.7% at the end of June. Spotify’s market cap over the three-month period increased, to $72.2bn from $62.5bn. UMG remained in second place, but the company’s market share was down, to 21.8% from 24.7%.

In a strong quarter for live music promoters, Live Nation took third spot in the rankings. It’s market cap ended the quarter at $25.4bn compared with $21.7bn at the end of June, boosting the company’s market share to 11.6% from 10%. Chinese music streaming service Tencent Music Entertainment slipped to fourth place with a market share of 8.7%. Rounding out the top five, WMG’s market cap share edged up, to 7.4% from 7.3%.

In a good quarter for music overall, 15 of the 28 tracked companies registered an increase in their share prices over the quarter with 13 recording a negative performance. US broadcast group iHeartMedia was the top performer. Its share price opened on July 1 at $1.09 and closed on September 30 at $1.85. The company’s market cap in the quarter increased, to $289m from $196m. At the other end of the scale, US music and entertainment service LiveOne suffered the biggest decline, with its share price dropping 38.4%, to $0.95 from $1.54.

The combined market cap of the 28 companies ended September at $219.6bn compared with $217.5bn at the start of July and $194.2bn at the beginning of the year. Of the total, US-listed companies accounted for 65.6% of the combined end-September market cap total, with Netherlands-listed companies generating 21.8%, and German-listed companies 4.6%. The market cap share for streaming services stood at 43.4%, with record companies/music publishers accounting for 35.4%.

“Spotify’s performance in the third quarter is a continuation of the company’s strong showing in quarters one and two,” said Simon Dyson, Senior Principal Analyst at Omdia. “So far this year the share price has almost doubled. In contrast, UMG’s share price has struggled to regain the losses following the release of the company’s midyear results,” 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 KhanFasiha.Khan@omdia.com

 

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SOURCE Omdia

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Appy Pie’s No-Code AI Design Platform Simplifies Holiday Creations for Christmas Posters and Avatars

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NEW DELHI, Dec. 21, 2024 /PRNewswire/ — Appy Pie Design, a leading No-code AI Design Platform, offers businesses and individuals an easy way to create Christmas posters and avatars for this upcoming holiday season. With its enhanced suite of AI-powered tools, the platform allows users to design festive visuals effortlessly, making it a go-to choice for creative holiday solutions.

Also, users can create unique, seasonally-themed avatars to showcase their holiday spirit across social media and professional platforms. These Christmas avatars can be used to personalize social media profiles, email signatures, or even professional platforms, spreading holiday cheer in both casual and formal settings.

“Our platform is designed to make the holidays easier and more joyful for everyone,” said Abhinav Girdhar, CEO of Appy Pie. “By providing accessible and creative solutions, we aim to help users connect meaningfully during this festive season.”

The AI Animation Generator enables users to bring their holiday ideas to life with engaging and dynamic visuals. The platform provides flexibility and convenience, making it an indispensable tool for celebrating the holiday season creatively and efficiently.

For those looking to turn static visuals into dynamic content, the Image to Video AI tool transforms still images into alluring videos. This functionality adds a new dimension to holiday designs, making them more interactive and impactful.

About Appy Pie
Appy Pie, a Trademark of Appy Pie LLP, is a leading global platform offering a suite of no-code, AI-powered tools, including an app builder, website builder, workflow automation platform, graphic design software, chatbot builder, help desk software, and live chat software, to help businesses and individuals design, build, and automate. With a user-friendly interface and a wide range of customizable templates, Appy Pie empowers users to create professional-grade applications, websites, and automation without coding expertise. Appy Pie caters to diverse needs from entrepreneurs to established enterprises by providing innovative solutions for various industries.

Media Contact
Abhinav Girdhar
sales@appypie.com
+1 888 322 7617

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SOURCE Appy Pie

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The Art of Lightness: ASUS to Unveil World’s Lightest Copilot+ PC

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LAS VEGAS, Dec. 21, 2024 /PRNewswire/ — ASUS is set to debut the world’s lightest Copilot+ PC during the AIways Incredible launch event on January 7, 2025. This groundbreaking laptop redefines ultra-light, AI-powered performance and will kick off CES 2025 with a live global stream.

Join the AIways Incredible Launch Event Online:

Date: January 7 at 9:00 AM PST

Event Page: https://asus.click/ces25_teaser

Teaser Video: https://www.youtube.com/watch?v=TLgFyI5jnbQ 

This latest solution will be part of the ASUS Zenbook series of laptops and offers several innovative aspects to look forward to.

The Art of Lightness Meets Next-Gen Technology

The ultra-light design of the world’s lightest Copilot+ PC is set to redefine possibilities for mobility on AI devices, offering a portable partner and collaborator for the modern user. It is the perfect blend of elegance and functionality, offering a seamless experience for professionals, creators, and everyday users alike. Inspired by minimalism and nature, the design philosophy celebrates quiet luxury without sacrificing innovation.

Intelligent Innovation with Copilot+ AI

The new Zenbook is more than a laptop—it is a smart partner designed to revolutionize productivity. Powered by Copilot+ AI, it delivers intuitive, adaptive workflows, seamless collaboration, and smarter performance tailored to user needs.

Performance Without Compromise

Despite its ultra-light design, the laptop boasts robust performance and an impressive 32-hour battery life, offering continuous productivity that makes it ideal for travelling, remote work, and on-the-go productivity. Full specs, including details of the cutting-edge processor, will be unveiled during the event.

AIways Incredible at CES 2025

The launch marks a key milestone for ASUS in shaping the AI era. Viewers around the world will discover the complete AI-powered capabilities of the revolutionary Zenbook, redefining the future of computing.

Tune in on January 7 to experience AIways Incredible for yourself: https://asus.click/ces25_teaser

About ASUS
ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, ASUS is world-renowned for continuously reimagining today’s technologies for tomorrow, garners more than 11 awards every day for quality, innovation, and design, and is ranked among Fortune’s World’s Most Admired Companies.

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SOURCE ASUSTek Computer INC.

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IGF 2024 Concludes 19th Edition, Calling for Enhanced Digital Cooperation and Sustainable Development

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RIYADH, Saudi Arabia, Dec. 21, 2024 /PRNewswire/ — The Internet Governance Forum (IGF) successfully concluded its 19th edition, hosted in Riyadh at the King Abdulaziz International Conference Center from December 15 to 19, 2024. Organized by the United Nations, the event featured over 100 experts, specialists, officials, and stakeholders from 160 countries, alongside more than 1,000 international speakers.

The forum served as a distinguished platform for global digital transformation experts, fostering discussions on artificial intelligence and digital innovation. It provided an opportunity for the exchange of experiences, information, and best practices, while addressing emerging digital challenges and collaboratively identifying solutions across governments, private enterprises, and non-profit sectors.

This year’s edition was held under the theme “Building Our Multistakeholder Digital Future” and centered around four key sub-themes: Harnessing Innovation and Balancing Risks in the Digital Space; Enhancing Digital Contribution to Peace, Development and Sustainability; Advancing Human Empowerment and Inclusiveness in the Digital Age; and Improving Digital Governance for the Internet We Want.

Discussions focused on achieving a shared understanding of how to maximize the global internet’s potential, mitigate risks, and address challenges to support the United Nations’ Sustainable Development Goals (SDGs). Key topics included leveraging digital innovation while addressing associated challenges, supporting strategic digital government initiatives, and promoting global peace and sustainability through digital tools.

His Excellency the Minister of Communications and Information Technology, Eng. Abdullah bin Amer Alswaha, expressed his great pride in the forum’s success, saying, “This year’s edition of the forum is the largest to date in terms of participants and working sessions, as confirmed by the United Nations. As one of the fastest-growing countries in the digital sector, Saudi Arabia is committed not only to facilitating internet access and harnessing technological developments to drive progress and sustainable development, but also to enhancing digital cooperation to achieve the SDGs.”

The forum’s activities featured a strong presence from public and private sector institutions and international entities dedicated to enabling digital transformation and fostering innovation. Success stories were showcased, demonstrating how these entities have accelerated digital government services for the benefit of society. Sessions and workshops addressed critical digital challenges, transformative applications of digital innovations, and opportunities for adopting and expanding access to digital technology and governance.

Participants engaged enthusiastically in interactive sessions with experts who shed light on diverse aspects of internet governance and digital collaboration, responding to inquiries and providing valuable insights. These interactions offered Saudi national cadres and emerging talents an exceptional opportunity to expand their knowledge and expertise.

The forum was an opportunity to showcase the Kingdom’s great capabilities in communications and information technology, the tremendous digital developments and achievements in e-commerce, banking, healthcare services, and official government transactions.

The forum also served as a platform to highlight Saudi Arabia’s remarkable advancements in communications and information technology, including progress in e-commerce, banking, healthcare services, and official government transactions. It reaffirmed the Kingdom’s rapid strides in building a thriving digital economy, its leadership in promoting digital inclusion, and its efforts to bridge the global digital divide in alignment with the UN’s SDGs.

By hosting the 19th edition of IGF, Riyadh reaffirmed Saudi Arabia’s commitment to solidifying its position as a global leader in digital innovation, international cooperation, and shaping the future of internet governance.

For more information about the Internet Governance Forum, please visit: https://www.intgovforum.org/en

For more information about the Digital Government Authority, please visit: https://dga.gov.sa/en

View original content:https://www.prnewswire.com/apac/news-releases/igf-2024-concludes-19th-edition-calling-for-enhanced-digital-cooperation-and-sustainable-development-302337853.html

SOURCE Internet Governance Forum

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