Overnight news from around the world: Wednesday, October 26

Overnight news from around the world: Wednesday, October 26

Apple Q4 earnings show revenues down 9%

Apple posted its Q4 earnings for the fiscal year last night, revealing that revenues are down 9% for the quarter. The tech giant revealed that it $9.01 billion in net income, or $1.67 in earnings per share, on $46.9 billion in revenue in Q4 of its 2016 fiscal year, ending September 24. This was down from $51.50 billion last year. Apple met its Q4 predictions of $45.5-$47.5 billion for the quarter. However, the results show that this is the first time since 2001 that the firm’s revenue for the full fiscal year — $215.6 billion — is lower than the previous fiscal year. The prior year it was $233.7 billion. A significant factor in Apple’s Q4 earnings was its dip in iPhone sales, which fell 13% year-on-year. 45.5 million units were sold, resulting in $28.1 billion in sales. Meanwhile, it was a strong quarter for Apple Music, Apple Pay and iCloud, with Apple’s Services revenue up 24%, bringing in revenues of $6.3bn. (Music Week)

Pandora Q3 revenues up 13%, yet still fall short of predicted earnings

The US firm reported revenue growth of $351.9m, up 13% year-on-year. However, this figure fell short of analysts’ expectations of $366.1m. Adjusted earnings per share also failed to meet expectations, with a loss of 7 cents, instead of the 6 cents predicted by Wall Street. The stock fell by around 8% in the initial after hours trading. Advertising revenue hit $273.7m, marking a 7% increase year-on-year, but this too fell short of the $286.9m it was estimated to make. Ticketing service revenue hit $22.1m; showing growth of 25%, yet also falling just short Wall Street predictions. Meanwhile, listener fell to 77.9 million, compared to 78.1 million in the same period last year. On a more positive note, total listener hours grew by 5% year-on-year to 5.4 billion.

British Composer Awards nominees revealed

A total of thirty-four composers have been shortlisted for this year’s British Composer Awards, spanning 33 works across 11 categories The 2016 shortlist, announced today, is made up of 38 per cent women composers (the highest numbers in the Awards’ history), 20 per cent international composers and 50 per cent first-time nominees. British Composer Awards are presented by BASCA and sponsored by PRS for Music; in association with BBC Radio 3 who will be providing exclusive broadcast coverage of the Awards on Hear and Now, Saturday 10 December. Two new awards have been announced this year: The British Composer Award for Innovation and the British Composer Award for Inspiration, each category will “recognise the entire body of work of a composer to date.” (Music Week)

UMG and Avenged Sevenfold partner for ground-breaking VR gig

Universal Music Group, Capitol Records, VRLive and US rock outfit Avenged Sevenfold have teamed up to present a ground-breaking global 3D, 360-degrees, live-streamed virtual reality performance on Thursday, October 27. Fans around the world will be able to view the live stream on UMG’s newly released VRTGO VR app, which is powered by VRLive’s technology. The VRTGO app is freely available on iOS and Android devices. “We are constantly working to create opportunities for our artists to connect with their fans in new and exciting ways,” said Michelle Jubelirer, COO, Capitol Records. “We’re thrilled to work with Avenged Sevenfold and VRLive to bring this unique experience to Avenged Sevenfold fans around the world.” VRLive will also be streaming the event to 50 Samsung Gear VR headsets on the ground level at the event for the guests to virtually transport themselves to the stage. The show will be shot using Nokia OZO camera, the first purpose-built VR camera with immersive spatial audio to deliver optimised VR music experiences. (Music Week)

Hamish Dodds steps down as president and CEO of Hard Rock Café International 

Hard Rock Cafe International has announced that its president and CEO, Hamish Dodds, will step down from his position in early 2017 to pursue new opportunities. The company is wholly owned by the Seminole Tribe of Florida. It has been led by Dodds since 2004. “It has been an absolute privilege working for Hard Rock over the last 13 years and leading the growth of this amazing brand, while helping to reinforce Hard Rock’s unique character, and its commitment to service and philanthropy. Hard Rock is a place where staff are empowered to deliver authentic guest experiences in a rock and roll environment,” said Dodds.  “Today, the business is well positioned with a strong brand footprint and an extensive pipeline of projects in all business units. I wish the Seminole Tribe of Florida and all our Hard Rock employees and partners continued success in the future.” Jim Allen, chairman of Seminole HR Holdings, LLC, the company's parent, said “We are grateful to Hamish for his leadership and vision. His global perspective was instrumental in the company’s growth. His loyalty and passion are greatly appreciated, and we wish him well in the next stage of his career.”

MOBO Awards hosts revealed

Melvin Odom and Rickie Haywood-Williams have been unveiled as the hosts for the 2016 MOBO Awards. he event returns to Glasgow’s SSE Hydro Arena on November 4 in what will be its 21st outing This year’s nominees shortlist features some of the biggest names in urban music, including Skepta, Kano, Craig David, Katy B, Lady Leshurr and Tinie Tempah.

Bluedot festival returns for 2017

Following its debut outing last summer, the bluedot festival returns again to Jodrell Bank - the Cheshire observatory - on July 7-9 2017 for a second edition. The festival features musical performances, along with a vast programme of arts, cultural and scientific activities. Nominated in six categories at the UK Festival Awards, including Best New Festival, Best Small Festival and Best Headliner for Jean-Michel Jarre, plus two nominations at the AIF Awards including New Festival on the Block and Mind Blowing Spectacle, bluedot is set to expand its offering next year. Festival director Ben Robinson said: “Last year’s bluedot festival exceeded all expectations, a combination of the incredible location and the rich diversity of the musical line-up and the science, arts and culture content really set us apart from the pack. We are determined to raise the bar again and have some very exciting developments to announce in the coming months.”

Hacienda Classical to be screened at Vue cinemas for one night only

A new documentary charting the journey of the legendary Haçienda club's move into the classical genre will be screened at Vue Nationwide for one night only on Saturday, November 12. Filmed over the past year, it shows the results of putting Haçienda icons such as Peter Hook, Mike Pickering, Graeme Park, Rowetta and many more together with the Manchester Camerata orchestra for a series of ‘Hacienda Classical’ live events and subsequent recording. The documentary, produced by Carm Music and directed by Chris Cowey, ties in with the October release by FAC51 The Haçienda and Sony Classical of ‘Haçienda Classiçal’, a full studio album of the live show that followed a series of national live events held earlier this year.

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