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. (WMG) announced that CEO Steve Cooper will participate in a Q&A session at the Goldman Sachs 30th Annual Communacopia Conference on September 23, 2021, at 2:05 p.m. ET. The event will be accessible to the public via a live webcast on WMG’s Investor Relations homepage. A replay will also be available in the Past Events section post-event. WMG operates globally, representing various renowned music labels and boasts a vast catalog of over 1.4 million musical compositions across multiple genres.
Warner Music Group (WMG) has secured a global partnership with the estate of David Bowie, gaining rights to his entire music catalog spanning five decades. This deal expands WMG's previous agreement, now including Bowie's works from 2000 to 2016, such as Blackstar and The Next Day. WMG's relationship with the Bowie estate, ongoing since 2013, has seen successful reissues and box sets. This partnership aims to honor Bowie's legacy and introduce his music to new audiences.
Roblox (NYSE: RBLX) and Warner Music Group (NASDAQ: WMG) have partnered to launch the Twenty One Pilots Concert Experience on September 17, 2021, at 4 p.m. PDT. This interactive virtual concert utilizes Roblox technology to allow fans to dictate the setlist in real-time and participate in pre-concert quests across Roblox's popular experiences. Featuring exclusive merchandise and behind-the-scenes content, the concert aims to enhance fan engagement. The event aligns with Twenty One Pilots' creative philosophy, presenting a five-song set including hits and new material.
Warner Music Group Corp. (WMG) announced 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 September 1, 2021, to shareholders on record by the close of business on August 25, 2021. This declaration reflects WMG's ongoing commitment to returning value to its shareholders while maintaining its legacy as a leading music company.
Warner Music Group Corp. (WMG) has initiated a private offering of euro-denominated senior secured notes through its subsidiary, WMG Acquisition Corp. The proceeds will be used to fund the redemption of 3.625% senior secured notes due 2026, called for redemption on August 16, 2021. The offering is exempt from the Securities Act registration requirements and is aimed at qualified institutional buyers and certain persons outside the U.S. This announcement includes forward-looking statements and is subject to various risks and uncertainties.
Warner Music Group reported strong fiscal results for Q3 2021, with total revenue increasing by 33% to $1.34 billion. Notable growth in recorded music revenue, which rose 34% to $1.15 billion, was supported by a 27% rise in streaming revenue. The company achieved a net income of $61 million, a significant turnaround from a $519 million loss in the same period last year. Adjusted OIBDA grew 58% to $263 million. Despite ongoing challenges from the pandemic, notable increases were observed in both physical and digital sectors.
Warner Music Group (WMG) will announce its financial results for the third quarter ended June 30, 2021, on August 3, 2021. The earnings conference call will take place at 8:30 a.m. ET, where investors can dial in or join via a webcast. The call will be replayable until September 2, 2021. WMG operates globally in over 70 countries and encompasses renowned labels and a substantial music publishing catalog. This upcoming report will provide insights into WMG's financial health, which is critical for investors.
Warner Music Group Corp. (WMG) has elected Nancy Dubuc to its board of directors, where she will also serve as chairperson of the Audit Committee. This change is effective immediately. Dubuc, currently CEO of VICE Media Group, brings extensive experience in digital media, enhancing WMG's strategic direction. Former board member Thomas H. Lee steps down after over 17 years but is honored with the title of Director Emeritus for his contributions. This transition indicates a focus on innovation and growth for WMG in the evolving music industry landscape.
Warner Music Group (WMG) announced that its Chief Financial Officer, Eric Levin, will participate in a Q&A session at the Credit Suisse 23rd Annual Communications Conference on June 14, 2021, at 9:30 a.m. ET. A live webcast of the session will be accessible to the public via the Investor Relations section of WMG's website. Additionally, a replay of the discussion will be available in the Past Events section after the event.
WMG encompasses a diverse array of iconic labels and companies, showcasing its strong global cultural influence.
Warner Music Group (WMG) has announced a quarterly cash dividend of $0.12 per share on its Class A and B Common Stock, amounting to approximately $61.7 million. This dividend is payable on June 1, 2021, to stockholders on record as of May 24, 2021. The announcement reflects WMG's commitment to returning value to shareholders as it continues its legacy of over 200 years in the music industry, housing iconic labels and a vast catalog of copyrights.
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