A rundown of publicly traded companies' results for the quarter ending Sept. 30, from Spotify to Universal Music Group and more.
Sales Chart Binoculars Illustration Matthew Billington/WWD
The broader economy’s struggles with increasing prices, worsening consumer sentiment and fears of an AI bubble are not far from music industry executives’ minds this quarterly earnings season. Music companies have been cutting expenses, building up their available cash and prioritizing the music fans and audio entertainment subscribers who deliver the most to their bottom line.
Spotify — the biggest publicly traded music company, with a $122 billion market cap — showed it has not suffered any loss of subscriber growth momentum, even amid global price increases.…