Blogs

Warner Music Group (WMG) today announced it has entered a partnership with influential music streaming and discovery service, Audiomack, marking the platform’s first licensing deal with a major label. The two will work together on content concepts and explore ways to break emerging artists, connecting avid music fans and tastemakers with rising talent before they hit the mainstream.

“It’s important that we take a principled but adventurous approach to empowering entrepreneurialism,” said Allan Coye, Vice President of Digital Strategy & Business Development, Warner Music Group.

Warner Chappell Music today announced the signing of an exclusive subpublishing agreement with Round Hill Music. The deal covers the world, excluding the U.S., Canada, the British Isles, and the Nordics. Under terms of the agreement, Warner Chappell will administer Round Hill copyrights as well as explore a diversity of creative opportunities for Round Hill songs and songwriters across the globe.

Founded in 2010, Round Hill has grown to become one of the largest independent music rights owners in the world.

• Total revenue grew 10.4% or was up 13.4% in constant currency

• Digital revenue grew 12.5% or was up 15.5% in constant currency

• Net income was $14 million versus $321 million in the prior-year quarter

• OIBDA was $124 million, up 25.3% from $99 million in the prior-year quarter

Warner Music Group Corp. today announced its third-quarter financial results for the period ended June 30, 2019.

“Our third-quarter results are proof of our continued momentum,” said Steve Cooper, Warner Music Group’s CEO.