Headlines: Metrics, Metrics, and Metrics

There's a lot of speculation—both optimistic and pessimistic—around the impact the pandemic is and will have on the music industry. These are the stories that focused on actual numbers... both newly reported and the metrics highlighted as more important than others.

Enter the Metrics: Data for May and June to Shed Light on How COVID-19 Will Impact the Music Biz (Billboard)

Music is said to be countercyclical, meaning its rises and falls do not correlate with larger economic swings; publishing assets are particularly prized for their stability. Some upcoming earnings reports will provide clues about music's ability to withstand the most severe economic downturn since the Great Depression.

"Anyone can go out and spend $1 billion. The trick is getting a good return for your investors." (Music Business Worldwide)

You have to look at everything from a risk-adjusted standpoint.There’s a big difference between paying a 16-multiple on Carlin and paying even a 12-multiple for a [single] modern pop writer’s catalog – that’s kind of night and day.

UMG First Quarter Revenues Up 13% as COVID-19 So Far Has 'Limited Impact' on Vivendi Earnings(Billboard)

At UMG, recorded music revenues jumped 13% to €1.432 billion ($1.55 billion) thanks to sustained growth in subscription and streaming revenues -- which increased 16.5% to €908 million ($985 million). Music publishing revenues grew by 18% to €271 million ($294 million), also driven by increased subscription and streaming revenues.

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