Connect with us

Technology

Spotify takes the music industry market cap crown in Omdia’s second quarter music industry share review

Published

on

LONDON, July 10, 2024 /PRNewswire/ — New analysis from Omdia has revealed that Spotify overtook Universal Music Group (UMG) to become the biggest music industry company in market capitalization terms in the second quarter of 2024. According to the Omdia’s Music Industry Sharewatch, 2Q24, Spotify’s market cap at the end of June stood at $62.5bn compared with $53.7bn for UMG. Spotify’s market cap increased 18.2% from $52.8bn at the end of the first quarter, while UMG’s edged down 1.5% from $54.5bn.

In a strong quarter for music streaming services, China’s Tencent Music Entertainment (TME) was third in the rankings. Its market cap surged 26.3% to $24.1bn from $19.1bn. As a result, Spotify’s share of the combined market cap of the 28 publicly listed music companies tracked by Omdia rose to 28.7% from 24.9%. UMG’s share decreased, to 24.7% from 25.7%, while TME’s share was up, to 11.1% from 9%.

Of the 28 tracked companies, just eight registered an increase in their share prices over the quarter. One (Mdundo) saw no change and the other 19 recorded a negative performance. The Indian music company Saregama was the top performer. Its share price opened on April 1 at INR348.05 ($4.18) and closed on June 28 at INR555.45. The company’s market cap in the quarter increased, to $1.28bn from $878m. At the other end of the scale, Brazilian live music promoter suffered the biggest decline, with its share price tumbling 50.7%, to BRL1.47 ($0.29) from BRL2.98.

The combined market cap of the 28 companies ended June at $217.5bn, compared with $212.4bn at the start of April and $194.2bn at the beginning of the year. Of the total, US-listed companies accounted for 63.3% of the combined end-June market cap total, with Netherlands-listed companies generating 24.7%, and South Korean companies 4.3%. The market cap share for streaming services stood at 41.2%, with record companies/music publishers accounting for 38.8%.

“Spotify’s impressive second quarter performance is a continuation of its success from the first quarter of this year,” said Simon Dyson, Senior Principal Analyst at Omdia. “The share price has risen almost 70% so far this year and has doubled since last October,” 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 Khan Fasiha.khan@informa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/spotify-takes-the-music-industry-market-cap-crown-in-omdias-second-quarter-music-industry-share-review-302193265.html

SOURCE Omdia

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Innoscience’s current products are not affected by both rulings of the Munich Regional Court

Published

on

By

MUNICH, June 18, 2026 /PRNewswire/ — Innoscience today announced that the Munich Regional Court has just issued a pair of rulings, from which it could be confirmed that Innoscience’s currently marketed gallium nitride (“GaN”) power device products fall outside the scope of Infineon’s asserted German patents and may be commercialized in Germany without restriction.

These rulings are fully consistent with the final determination issued last month by the U.S. International Trade Commission (“ITC”), which found that Innoscience’s current products do not infringe Infineon’s asserted U.S. patent relating to packaging design (U.S. Patent No. 9,899,481). The Munich case concerns the German counterparts of that same patent family. In line with the ITC’s findings, the Munich Court found infringement only with respect to a limited set of legacy products—certain packaged 650–700V transistors—that had already been discontinued. Therefore, any injunction granted would not apply to Innoscience’s current product portfolio. As a result, there is no impact on Innoscience’s ongoing operations or its customers’ use of its products in Germany.

The decisions mark another significant milestone in Innoscience’s string of favorable outcomes across major jurisdictions. They follow the company’s recent success in China, where it secured an injunction and damages award against Infineon, as well as its decisive victory at the ITC in the United States last month. Together, these rulings reaffirm the legality of Innoscience’s current product portfolio and its ability to operate freely in key global markets.

While proceedings in Germany remain ongoing, including Innoscience’s invalidity challenges to the asserted German patent, the growing body of decisions across China, the United States, and Germany underscores that the global litigation campaign initiated by Infineon has not altered the competitive position of Innoscience’s core products. To the contrary, independent judicial findings across multiple jurisdictions have consistently validated the robustness of Innoscience’s technology and reinforced market confidence in the company’s product compliance and innovation capabilities.

Innoscience remains committed to advancing its technology leadership and expanding its global footprint, delivering cutting-edge GaN solutions to customers worldwide in a fair and competitive marketplace.

View original content:https://www.prnewswire.com/news-releases/innosciences-current-products-are-not-affected-by-both-rulings-of-the-munich-regional-court-302805093.html

SOURCE InnoScience

Continue Reading

Technology

NetZoom Announces Data Center Infrastructure Management Solution for Higher Education Institutions

Published

on

By

NetZoom® is a robust DCIM for managing College and University data centers, campus infrastructure and smart classrooms

CHICAGO, June 18, 2026 /PRNewswire-PRWeb/ — NetZoom offers an intuitive Data Center Infrastructure Management (DCIM) solution designed to help colleges and universities document, visualize, and manage the infrastructure supporting campus IT services, research computing, smart classrooms, and distributed data center environments.

NetZoom helps colleges and universities establish a reliable source of truth, improve operational planning, and support critical infrastructure without adding unnecessary burden to IT and facilities teams.

Higher education institutions often manage infrastructure spread across data centers, MDF/IDF closets, labs, classrooms, and multiple campus locations while supporting digital learning, campus connectivity, research workloads, and administrative systems. These environments require accurate asset management, reliable connectivity documentation, capacity planning, and operational visibility across IT and facilities.

Common infrastructure management challenges in higher education include:

Lack of a single source of truth for asset managementDistributed assets across the entire campusLimited space, power, cooling, and budget resources as digital learning, research computing, and campus IT services continue to expandMaintaining uptime and resiliency for critical academic, research, and administrative systems

“Higher education institutions are managing increasingly complex data center environments that support students, faculty, research, and campus-wide digital services,” said Uriel Campos, General Manager at NetZoom, Inc. “To manage these environments effectively, teams need clear visibility into their assets, connectivity, capacity, power, and cooling. NetZoom helps colleges and universities establish a reliable source of truth, improve operational planning, and support critical infrastructure without adding unnecessary burden to IT and facilities teams.”

NetZoom also supports IT and facilities teams by centralizing asset, connectivity, capacity, power, cooling, and change management data in a visual DCIM platform. By bringing these functions together, institutions can improve resource planning, reduce reliance on manual tracking, identify capacity constraints, and better understand the impact of infrastructure changes.

NetZoom’s DCIM solution offers significant benefits to higher education institutions including:

Campus-wide infrastructure visibility: Helps IT and facilities teams maintain a centralized view of assets across data centers, MDF/IDF closets, labs, classrooms, and distributed campus locations.Improved planning for space, power, and cooling: Provides visibility into capacity utilization so institutions can better support growing digital learning, research computing, and administrative systems.Reduced reliance on manual tracking: Centralizes asset, connectivity, capacity, and change management data to help reduce spreadsheet dependency, duplicate records, and inconsistent documentation.Operational support for limited IT resources: Helps streamline day-to-day infrastructure management, giving campus teams better access to the information needed to plan changes, troubleshoot issues, and manage equipment lifecycles.Scalable support for evolving campus technology: Allows institutions to start with core DCIM functions and expand into areas such as monitoring, reporting, service management, integrations, and advanced capacity planning as their needs grow.

Availability

NetZoom DCIM for Higher Education is immediately available in both SaaS and On-Premises deployments. For demonstrations, POCs, pricing and deployment options, contact NetZoom at 630-281-6464, email Sales@NetZoom.com or visit NetZoom.com

About NetZoom

Founded in 1995, NetZoom, Inc. is an Illinois corporation with headquarters in the Chicago area. NetZoom offers a flexible and powerful application that integrates with on-premise, virtual and cloud resources and many third-party tools like ServiceNow® to create a complete DCIM solution for data center professionals worldwide to effectively model, manage, monitor and maximize IT and Facility infrastructure.

For more information, visit NetZoom.com

NetZoom is a registered trademark of NetZoom, Inc. All other marks and names are trademarks of their respective companies.

Media Contact

Marketing Department, NetZoom, Inc., 1 630-281-6464, Marketing@NetZoom.com, https://NetZoom.com

View original content to download multimedia:https://www.prweb.com/releases/netzoom-announces-data-center-infrastructure-management-solution-for-higher-education-institutions-302804934.html

SOURCE NetZoom, Inc.

Continue Reading

Technology

NOVVA Group acquires 120 MWp Philippines solar project, anchoring its AI-era power platform in Southeast Asia

Published

on

By

HONG KONG, June 19, 2026 /PRNewswire/ — NOVVA Group (“Novva”), a global AI-enabling energy infrastructure platform, announced today that it has signed a definitive agreement to acquire 100% of San Jose Solar Power Plant (“SJSP”), a utility-scale solar PV project in Bukidnon, Mindanao, from Mabuhay Power Holdings Corporation. The acquisition marks Novva’s first investment in the Philippines and a critical milestone in its strategy to build a scalable, bankable power platform across Southeast Asia.

SJSP is a 120 MWp greenfield solar project located in Barangay San Jose, in the Municipality of Quezon, Bukidnon. Once operational, it is expected to generate over 200 GWh of clean electricity per year. Construction is scheduled to begin in Q1 2027, with commercial operation targeted for 2028.

The transaction comes amid an unprecedented surge in Asian power demand, driven by the rapid expansion of artificial intelligence, cloud computing, and digital infrastructure. With energy availability emerging as the primary constraint on sustained economic growth, resilient power infrastructure has become vital. The project also advances the Philippines’ goal of a 35% renewable energy share by 2030, channelling clean capacity into one of Southeast Asia’s fastest-growing digital economies.

Steven Liu, Founder and CEO of Novva, said: “Power availability has become one of the defining constraints on future growth. With SJSP, we are securing the strategic infrastructure needed to support the next wave of industrial and digital development. By combining disciplined execution with long-term partnerships, Novva is building a reliable clean energy foundation to power the future of Southeast Asia.”

SJSP will integrate directly into Novva’s regional platform, which combines renewable generation, flexible power solutions, energy storage, grid connectivity and infrastructure financing capabilities. Novva remains committed to scaling clean energy capacity to sustain the next generation of hyperscale data centres and digital economies.

About Novva
Novva (NOVVA Group Pte. Ltd.) is a global AI-enabling energy infrastructure platform that originates, finances, builds, and operates bankable clean energy assets across Southeast Asia and Latin America. As digital transformation drives an unprecedented increase in global electricity demand, Novva scales its clean power capabilities to build the reliable energy foundation for the AI era and beyond.
www.novvaglobal.com

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/novva-group-acquires-120-mwp-philippines-solar-project-anchoring-its-ai-era-power-platform-in-southeast-asia-302805075.html

SOURCE NOVVA Group

Continue Reading

Trending