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 (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.
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.
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