Blogs

New Platform to Promote Recording Artists and Songwriters Across the Globe

Warner Music Group (“WMG”) and Providence Equity Partners (“Providence”) today announced plans to invest in world-class recorded music and music publishing catalogs via a newly established platform, Tempo Music Investments (“Tempo”).

Tempo was launched with $650 million in equity and debt capacity, with most of the equity coming from Providence, a leading investment firm specializing in the media, communications, education and information industries.

Warner Chappell Music (WCM), the global publishing arm of Warner Music Group, announced today that leading music executive Rich Christina is joining the company as Senior Vice President of A&R. Based in New York, Christina will report to Ryan Press, WCM’s President of A&R, U.S. Christina was most recently with Sony/ATV Music Publishing, where he served as Senior Vice President and Head of East Coast A&R.  

“Rich and I have known each other for nearly 30 years, and I’m thrilled to reunite with him in his new post at WCM,” said Warner Chappell Co-Chair & CEO Guy Moot.

• Total revenue for the full year grew 11.7% or 14.7% in constant currency

• Digital revenue for the full year grew 15.9% or 18.7% in constant currency

• Net income for the full year was $258 million versus $312 million in the prior year

• OIBDA for the full year was $625 million versus $478 million in the prior year

• Total revenue for the quarter grew 8.2% or 10.4% in constant currency

• Digital revenue for the quarter grew 13.1% or 15.0% in constant currency

• Net income for the quarter was $91 million versus a loss of $13 million in the prior-year quarter

• OIBDA for the quarter was $95