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Warner Music Group Corp. Reports Results for Fiscal Third Quarter Ended June 30, 2020

on August 4, 2020 - 8:08pm
  • Digital revenue grew 11.1% or 13.4% in constant currency
  • Total revenue was down 4.5% or 3.1% in constant currency
  • Net loss was $519 million versus net income of $14 million in the prior-year quarter
  • OIBDA was a loss of $371 million versus income of $124 million in the prior-year quarter
  • Adjusted OIBDA was $166 million versus $148 million in the prior-year quarter
  • Adjusted EBITDA was $189 million versus $159 million in the prior-year quarter

Warner Music Group Corp. today announced its third-quarter financial results for the period ended June 30, 2020.

“We’re very pleased with our performance

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Warner Music Group Names Dr. Maurice Stinnett Head of Global Equity, Diversity & Inclusion

on August 3, 2020 - 8:59am

Warner Music Group (WMG) announced today that Dr. Maurice Stinnett is joining the company in the senior management role of Head of Global Equity, Diversity & Inclusion. Stinnett was most recently Vice President of Diversity, Inclusion, and Culture at BSE Global, whose operations include the NBA’s Brooklyn Nets, the WNBA’s New York Liberty, and Brooklyn’s Barclays Center. He will report to Warner Music Group CEO Steve Cooper and be based at the company’s global headquarters in New York City.

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Warner Music Names Global Records as New Romanian Licensee

on July 31, 2020 - 12:45pm

Global will license Warner Music’s international repertoire in Romania and companies will partner on A&R of domestic acts

First joint campaign will accelerate success of breaking artist Roxen

Warner Music has appointed Global Records as its licensee in Romania with immediate effect.  Global will license Warner Music’s international repertoire in Romania and the two companies will collaborate on growing a domestic roster of artists and promoting them internationally.

Their partnership will begin with a campaign to support Roxen, an artist who has enjoyed local chart success, international

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Warner Music Group Corp. to Conduct Earnings Conference Call on Tuesday, August 4, 2020

on July 28, 2020 - 10:01am

Warner Music Group Corp. will release its financial results on Tuesday, August 4, 2020, for the third quarter ended June 30, 2020, and will hold an earnings update conference call that morning at 8:30 a.m. ET.

 

To access the conference call, please dial (833) 646-0491 or (918) 922-6618. The passcode for the call is “Warner Music.”  We suggest you call in 10 minutes prior to the start time. If you do not anticipate asking a question, we recommend joining via the webcast at www.wmg.com. You will be able to replay the conference call up until Thursday, September 3, 2020 at 11:30 a.m.

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Latin Music Industry Innovator Juan Paz Appointed as Head of New ADA Latin Division

on July 27, 2020 - 10:01am

Warner Music Group’s ADA Worldwide today announced the launch of ADA Latin, headquartered in Miami and led by seasoned music executive and change enabler, Juan Paz. As Managing Director of the new global division, Paz will oversee Latin U.S., Latin America, Spain and Portugal, reporting to Eliah Seton, President of Independent Music & Creator Services at Warner Music Group.

 

“Global impact is a cornerstone of ADA; we’re the indie that can scale. Being a leader in Latin America is mission critical to delivering on this promise,” said Seton.

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