Tag: Entertainment Content

China’s Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform.

Sea Ltd. shares advanced after the company reported a smaller-than-expected drop in quarterly earnings and predicted improving prospects for its e-commerce and gaming businesses.

Universal Music Group will cut jobs and streamline operations to save 250 million euros ($271.03 million) by 2026, the company said on Wednesday, a month after a lucrative licensing deal with social media platform TikTok expired.

Paramount Global long the subject of talk that it might be sold, continued to balance a fast-growing but unprofitable streaming business with a collection of declining television and movie assets in late 2024.

Playtika Holdings recorded higher revenue but lower earnings in the fourth quarter as costs rose and its average daily paying user count declined year-over-year.

Warner Bros Discovery reported a bigger-than-expected quarterly loss on Friday, as the media conglomerate battled the fallout of the twin Hollywood strikes on content generation and a weak advertising market.

Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue owner.

There was a chance for other technology companies to take the spotlight Monday given the Presidents Day holiday and suspended trading in the U.S..

Paramount Global announced Tuesday it is laying off about 800 employees, or roughly 3% of its workforce, according to a person familiar with the matter.

Roughly 123.4 million people watched the Kansas City Chiefs defeat the San Francisco 49ers at the Super Bowl on TV and streaming platforms, the most-watched Super Bowl ever, according to preliminary Nielsen ratings released by CBS on Monday.

Ubisoft Entertainment shares surged on Friday after the Assassin’s Creed maker said it is on track to achieve record sales for the financial year ending in March, in an announcement that assuaged investors’ fears that it would cut its guidance for the full-year 2024.

Walt Disney shares were up 7% in premarket trade early Thursday after a jam-packed earnings report.

Gaming platform Roblox forecast annual bookings above estimates on Wednesday after it crossed $1 billion in quarterly bookings for the first time on higher in-game spending during the holiday season, sending its shares up 15% before the bell.

Nintendo said it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, upping a previous forecast.

Meta shares jumped about 17% in U.S. premarket trading Friday after the company reported a tripling of profits in the fourth quarter and issued its first-ever cash dividend.

Paramount Global stock jumped in premarket trading Wednesday after a report said media mogul Byron Allen has offered $14 billion to acquire the company.

Universal Music Group said on Wednesday that it will cease licensing its music to TikTok and accused the short video giant of bullying and intimidation in its contract negotiations.

Paramount Global shares rose 3% in premarket trade, as CNBC reported that David Ellison’s Skydance Media is interested in leading a deal to buy the media company.

Netflix shares are trading sharply higher in late trading Tuesday after the company posted better-than- expected revenue and a substantial subscriber beat for the fourth quarter.

China’s gaming regulator has removed from its website rules it proposed last month aimed at curbing spending and rewards that encourage playing video games, checks by Reuters on Tuesday showed, in a move that boosted gaming company shares.