Warner Music Group Corp. reports developments across its Recorded Music, Music Publishing, artist services and independent-distribution businesses. Company updates commonly cover revenue trends in recorded music streaming, publishing royalties, catalog monetization, operating margins and cash flow, with results framed through labels such as Atlantic, Warner Records, Elektra, Parlophone and Rhino and the Warner Chappell Music publishing catalog.
WMG news also includes partnerships, strategic investments and content initiatives that extend the company’s artist and songwriter catalog into new distribution, film, digital-platform and global music markets. Recurring announcements address earnings calls, conference appearances and business relationships involving ADA, WMX, Warner Chappell Music and the company’s international affiliate and licensee network.
Warner Music Group (WMG) has announced a reorganization of its Recorded Music operations, aimed at strengthening artist services and creating more direct channels between local expertise and global opportunities. Key changes include:
1. Max Lousada, CEO of Recorded Music, will step down at the end of the fiscal year after 20 years with WMG.
2. Julie Greenwald will transition to a new role as Chairman of Atlantic Music Group.
3. Elliot Grainge will become CEO of Atlantic Music Group, effective October 1, 2024.
4. A new, flatter structure will elevate creative regional leadership, with regional and divisional leaders reporting directly to WMG CEO Robert Kyncl.
5. The company will strengthen its central global operations in distribution, Global Catalog, Marketing, and WMX.
Warner Music Group Corp. (WMG) has rescheduled its third quarter earnings release for Wednesday, August 7, 2024, a day earlier than previously announced. The financial results will cover the quarter ended June 30, 2024. An earnings conference call is set for 8:30 a.m. ET on the same day. Interested parties can register for the call to receive dial-in details and a personalized pin. WMG recommends joining 10 minutes before the start time. For those not planning to ask questions, a webcast option is available at www.wmg.com. The call replay will also be accessible via the company's website.
Warner Music Group (WMG) will release its Q3 2024 financial results on August 8, 2024, covering the period ending June 30, 2024. An earnings conference call is scheduled for the same day at 8:30 a.m. ET. Interested parties can register online to receive a dial-in number and personal pin for the call. Participants are advised to join 10 minutes before the start. The call can also be accessed via webcast on the WMG website, with a replay available post-event.
Warner Music Group (Nasdaq: WMG) has appointed Michael Ryan-Southern (MRS) as Executive Vice President of Corporate Development, effective August 5th.
MRS, who has extensive experience in investment, finance, and the music industry, will lead WMG's M&A activities. He will work closely with various departments to identify and acquire companies and catalogs to enhance growth and earnings.
Previously, MRS was Global Head of Music & Live Entertainment Investment Banking at Goldman Sachs and held senior roles at Mubadala Capital and EMI Music Publishing. He will report to WMG CEO Robert Kyncl and be based in New York.
MRS's appointment aligns with WMG's growth strategy and commitment to leveraging opportunities in recorded music, music publishing, and global markets.
MRS expressed excitement about WMG's entrepreneurial spirit and tech-forward approach, looking forward to contributing to the company's vision and evolution.
Warner Music Group (WMG) has announced that its Executive Vice President and Chief Financial Officer, Bryan Castellani, will participate in a Q&A session at the J.P. Morgan Global Technology, Media and Communications Conference on May 21, 2024, at 10:50 a.m. ET.
The session will be available via a live webcast on WMG's Investor Relations website, with a replay accessible afterward in the Past Events section.
Warner Music Group Corp. declared a regular quarterly cash dividend of $0.17 per share on its Class A Common Stock and Class B Common Stock, payable on June 3, 2024, to stockholders of record as of May 23, 2024.
Warner Music Group Corp. reported solid results for the fiscal second quarter ended March 31, 2024, driven by growth in recorded music and music publishing. Total revenue increased by 7%, with net income reaching $96 million. Operating income decreased by 4% to $119 million, while adjusted OIBDA increased by 9% to $312 million. The company highlighted an acceleration in subscription streaming and revenue growth of 19% in music publishing. WMG reiterated their full-year operating cash flow conversion guidance and remains focused on long-term growth.
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