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 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.
Warner Music Group Corp. (Nasdaq: WMG) has announced an underwritten secondary offering of 8,562,500 shares of its Class A common stock at $41.00 per share, set to close on January 6, 2022. The offering, led by affiliates of Access Industries, will not include any shares sold by Warner Music Group, meaning the company will not receive any proceeds. Morgan Stanley is acting as the underwriter. A shelf registration statement relating to the stock has been filed and is effective, with related documents available through the SEC.
Warner Music Group Corp. (Nasdaq: WMG) announced the sale of 8,562,500 shares of its Class A common stock by affiliates of Access Industries to Morgan Stanley & Co. LLC, the sole underwriter for this public offering. The Company will not receive any proceeds from this transaction. Shares will be sold on Nasdaq or through negotiated transactions, with the offering subject to Morgan Stanley's discretion. Investors are encouraged to consult the registration statement and prospectus filed with the SEC for detailed information.
Warner Music Group (WMG) announced its acquisition of 300 Entertainment, a leading independent music company known for its roster of top-charting artists including Megan Thee Stallion and Mary J. Blige. Following the acquisition, Kevin Liles, co-founder of 300, will assume the roles of Chairman and CEO for both 300 and Elektra Music Group. This move aims to expand the global reach of 300's artists while maintaining its independent identity. Liles emphasized the importance of creative freedom and expressed confidence in the partnership's potential for growth.
Warner Music Group Corp. (WMG) announced a private offering of $535 million in senior secured notes through its subsidiary, WMG Acquisition Corp. The company plans to use the proceeds for potential acquisitions of music-related assets or for general corporate purposes if acquisitions do not proceed. The notes will be exempt from registration under the Securities Act and offered only to qualified institutional buyers. The company may also redeem portions of the notes before their maturity under specified conditions. Forward-looking statements and associated risks are noted.
Warner Music Group reported a strong Q4 2021, with total revenue growth of 22%, driven by 19% growth in digital revenue. Net income increased to $30 million compared to $1 million a year prior. For the full year, total revenue rose 19%, with digital revenue up 22%. Adjusted OIBDA for Q4 was $218 million, up 25%. The company also reported robust free cash flow of $193 million, a 39% increase year-over-year. Management remains optimistic about 2022's releases and market expansion.
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