Welcome to our dedicated page for Warner Music Group news (Ticker: WMG), a resource for investors and traders seeking the latest updates and insights on Warner Music Group stock.
Warner Music Group Corp. (WMG), trading under the symbol WMG, is one of the largest and most influential music companies globally. Home to a diverse roster of new stars and legendary artists, WMG boasts a collection of prestigious record labels such as Atlantic, Warner Records, Parlophone, and Reprise, alongside others like Asylum, Elektra, Fueled By Ramen, and Nonesuch.
The company operates through two primary segments: Recorded Music and Music Publishing. Its recorded music division includes iconic labels that manage some of the world's most renowned artists including Ed Sheeran, Cardi B, Dua Lipa, and Blake Shelton. Warner Chappell, the music publishing arm, manages over 1 million copyrights and 65,000 songwriters, making it a leader in the industry.
WMG's recent achievements highlight its dynamic growth and adaptability. Notably, the company announced a groundbreaking partnership with Megan Thee Stallion allowing her to maintain artistic independence while leveraging WMG's global resources. This agreement underscores WMG's commitment to fostering long-term creative and financial success for its artists.
Financially, WMG has shown resilience and robust growth. For the quarter ending December 31, 2023, the company reported a 17.5% increase in revenue to $1.51 billion, driven by an uptick in digital streaming and licensing revenues. Adjusted OIBDA surged by 34.6% to $451 million, signifying strong operational performance.
Recently, WMG has made strategic moves to expand its global footprint. In February 2024, Nora Fatehi signed her first major global record deal with WMG, aimed at boosting her international music career. This move marks WMG's continued investment in diversifying its artist portfolio and reaching new markets.
Moreover, WMG has strengthened its presence in India through an expanded partnership with Global Music Junction, enhancing its influence in central Indian music markets like Bhojpuri and Haryanvi. This strategic investment aligns with WMG's vision to support regional artists and tap into the fast-growing Indian music industry.
WMG's commitment to innovation is evident through its wide array of services including artist and label services offered by ADA and its next-gen artist services division, WMX. Additionally, the company engages in storytelling through Warner Music Entertainment and content creation via IMGN.
Controlled by Access Industries, WMG maintains an 84% economic interest and 99% voting rights, ensuring stability and long-term vision. With a global presence spanning over 70 countries, WMG continues to play a pivotal role in shaping the future of music and entertainment, standing as a testament to over 200 years of rich musical legacy.
Warner Music Group will announce its financial results for Q3 on August 9, 2022, encompassing the period ending June 30, 2022. A conference call is scheduled for 8:30 a.m. ET, where investors can register to participate. WMG operates globally with a diverse portfolio of labels and an extensive music catalog, strengthening its position in the entertainment landscape. With over 200 years of legacy, WMG connects artists and audiences through various platforms, showcasing its commitment to innovation and growth in the evolving music industry.
Warner Music Group (WMG) announced that Eric Levin, CFO, will speak at the Credit Suisse 24th Annual Communications Conference on June 14, 2022, at 1:30 p.m. ET. The session will include a Q&A segment and will be accessible via a live webcast on WMG's Investor Relations website. A replay will also be available afterward. WMG continues to impact global entertainment culture, representing notable labels and boasting a diverse music publishing catalog. This event highlights WMG's commitment to transparency and investor engagement.
Warner Music Group (WMG) announced that CFO Eric Levin will participate in a Q&A session at the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference on May 23, 2022, at 1:50 p.m. ET. A live webcast will be accessible to the public via the Investor Relations homepage of WMG’s website. Following the event, a replay of the audio webcast will be available for review in the Past Events section. WMG, with a rich history of over 200 years, operates globally with a diverse catalog of renowned music labels and extensive publishing rights.
Warner Music Group (WMG) has declared a quarterly cash dividend of $0.15 per share on its Class A and Class B Common Stock, totaling approximately $77.2 million. This dividend will be payable on June 1, 2022, to shareholders recorded by close of business on May 23, 2022. With a significant history in music, WMG continues to showcase a robust portfolio of artists and labels.
Warner Music Group reported a 10% revenue growth for Q2 ending March 31, 2022, reaching $1.376 billion, driven by 8% growth in digital revenue. While net income fell 21% to $92 million, OIBDA increased 12% to $255 million, indicating strong operational performance. Music publishing revenue surged 20%, reflecting growth in digital and performance streams. However, free cash flow dropped 88% to $16 million, largely due to timing in royalty payments. Despite net income decline, management expresses optimism for future growth.
Warner Music Group Corp. will announce its financial results for Q2 ending March 31, 2022, on May 10, 2022. An earnings conference call is scheduled for 8:30 a.m. ET on the same day, accessible via phone or webcast. The company, with over 200 years of history, operates in 70+ countries and consists of several renowned labels and a robust music publishing division. WMG also manages various brands, including independent artist services and social media content.
Warner Music Group (WMG) announced that CEO Steve Cooper will participate in a Q&A session at the Morgan Stanley Technology, Media, and Telecom Conference on March 8, 2022, at 1:15 p.m. PT. A live webcast will be available for the public on WMG's Investor Relations webpage, with a replay accessible later in the Past Events section. WMG operates globally with a diverse catalog of artists and labels and is a leader in music publishing through Warner Chappell Music, boasting over one million copyrights.
Warner Music Group reported strong financial results for Q1 2022, with total revenue increasing by 21% to $1,614 million, driven by significant growth in digital and recorded music streams. The net income surged 90% to $188 million, while adjusted EBITDA rose 31% to $389 million. OIBDA also saw an increase of 20% to $320 million. The company completed acquisitions of 300 Entertainment and David Bowie’s catalog, reinforcing its growth strategy. Despite these successes, cash provided by operating activities decreased by 24%, indicating potential future liquidity challenges.
On February 8, 2022, Warner Music Group Corp. (WMG) announced a quarterly cash dividend of $0.15 per share, amounting to $77.2 million in total. This dividend is payable on March 1, 2022, to shareholders of record by the close of business on February 18, 2022. As the company celebrates over 200 years of musical legacy, it continues to support its shareholders with regular dividends, showcasing confidence in its financial health.
Warner Music Group Corp. will announce its financial results for Q1 2022, ending December 31, 2021, on February 8, 2022, at 8:30 a.m. ET. Investors can join a conference call by dialing (833) 646-0491 or (918) 922-6618, using the passcode 'Warner Music.' The results will provide insight into WMG's performance, operational metrics, and future outlook. A replay of the call will be available until March 10, 2022. The company operates globally, representing a wide array of artists and songwriters through its various labels and divisions.
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