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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. (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.
Warner Music Group (WMG) declared a quarterly cash dividend of $0.15 per share on its Class A and Class B Common Stock, totaling approximately $77.2 million. The dividend is set to be paid on December 1, 2021 to shareholders recorded as of November 23, 2021. This reflects WMG's commitment to returning value to shareholders amidst the evolving music industry landscape.
Warner Music Group Corp. (Nasdaq: WMG) is set to release its fourth quarter and fiscal year financial results on November 15, 2021, for the period ending on September 30, 2021. An earnings conference call will follow at 8:30 a.m. ET, accessible via phone or webcast. Interested parties should prepare to dial in 10 minutes early. The conference call replay will be available until December 15, 2021. Warner Music continues to operate across 70 countries, with a diverse array of music labels and a vast catalog of over one million compositions.
Mattel, Warner Music Group, and iHeartMedia launched Barbie Radio, a 24-hour digital station available exclusively on iHeartRadio. The station features Barbie acting as a DJ, playing songs from her extensive catalog, including music from her latest album Barbie: Big City, Big Dreams. This initiative aims to engage children and families while promoting girl empowerment through its content. Barbie Radio can be accessed on various devices, providing an interactive musical experience for fans worldwide.
Warner Music Group has announced a secondary offering of 2,340,000 shares of its Class A common stock, priced at $44.00 per share. The offering, conducted by affiliates of Access Industries, is set to close on September 24, 2021. Warner Music Group will not sell any shares or receive proceeds from this offering. Morgan Stanley is acting as the underwriter. A shelf registration for the common stock has been filed and is effective, with all necessary documents available through the SEC and Morgan Stanley.
Warner Music Group Corp. announced the sale of 2,340,000 shares of its Class A common stock by affiliates of Access Industries to Morgan Stanley as the sole underwriter. The offering will be conducted on Nasdaq and other venues, with no proceeds going to Warner Music Group. The company advises investors to review the registration statement and prospectus filed with the SEC. The press release serves as a notification and not an offer.
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