Epidemic Sound 2020 Annual Report
- Today, Epidemic Sound Holding AB (“Epidemic Sound”) publishes its annual report for 2020
- Epidemic Sound has cemented its position in key markets and accelerated growth significantly within the most important business areas
- Epidemic Sound is well-positioned to continue to deliver cost-effective and high growth
- Net sales increased by 49% to SEK 575 million (387)
- EBITDA amounted to SEK -48 million (-141)
- EBIT amounted to SEK -141 million (-207)
- Net losses amounted to SEK -147 million (-186)
Stockholm, Sweden – Epidemic Sound’s 2020 financial results serve as proof that the global demand for restriction-free music continues to soar. Epidemic Sound taps into numerous thematic macro trends, such as the democratisation of how user-generated content is produced and consumed digitally, largely driven by the increased prevalence of video communication and the growing online creator economy.
The first part of the year was heavily influenced by the outbreak of the Covid-19 pandemic. The company adapted well to the new conditions and was quick to make strategically important and long-term decisions that optimised for the future.
Key leadership recruitments were made and the organisation became more organisationally and strategically mature. 2020 also saw the beginning of many new and promising initiatives and the company’s identity as ‘Digital First’ became clear.
During the year, Epidemic Sound launched a number of significant product improvements and established several important partnerships with companies such as Adobe, Getty and Canva, enabling Epidemic Sound to reach millions of new creators. This also creates opportunities for the company’s music creators to get heard through the global networks of partners.
Oscar Höglund, Epidemic Sound co-founder and CEO, comments: “2020 was the most transformative year in the history of Epidemic Sound. We accelerated to a completely digital business model and made several key recruitments. Furthermore, we expanded our world class music catalogue with thousands of new amazing tracks. I am proud of our team for adapting so well and for contributing to making 2020 such a successful year. It is clear that the demand for restriction-free music just keeps on growing and I could not be more optimistic about the future.”
The annual report (in Swedish) can be found here.
